It is critical that the United States maintain the highest level of education for our people. The single most important step to achieving this goal is to make higher education affordable. . Eliminating interest on student and parent PLUS loans, would reduce the burden on students and families. At the current rate of 7.9% over 20 years a $20,000 loan costs $39,850 to pay back, nearly doubling the cost of education.
There is no reasonable justification for charging interest on Federal Education Loans.