If you have student loan debt or follow the politics of it, you're probably familiar with this deadline: On July 1, if Congress does nothing, the interest rates on subsidized federal Stafford loans will double from 3.4 to 6.8 percent. We absolutely don't want this to happen, since it would mean  thousands of extra dollars of debt  for many already low-income borrowers.  Numerous proposals  to address the looming rate doubling are being debated in Congress, and both sides of the aisle have already seen one bill each get  voted down . 

It may not always be obvious, but the union movement and progressive student activists share the same core values when it comes to fighting for social and economic justice for all people. Today, AFL-CIO President Richard Trumka addressed more than 1,200 young activists at the 8th annual  Campus Progress National  Conference in Washington, D.C.:

Student loan borrowers shared a collective sigh of relief Friday afternoon when the House and Senate worked out a  deal  to halt student loan interest rates from doubling on July 1.

The Center for American Progress, Campus Progress and the USAction Education Fund released new reports today that detail what an increase in the interest rate on Stafford student loans would mean for several states.

If Congress doesn’t act, the interest rate on these loans will double—from 3.4 percent to 6.8 percent—on July 1.