U.S. House speaker to visit ASU, discuss student loans - East Valley Tribune: East Valley Education News

U.S. House speaker to visit ASU, discuss student loans

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Posted: Wednesday, February 14, 2007 6:13 am | Updated: 7:57 pm, Fri Oct 7, 2011.

U.S. House Speaker Nancy Pelosi, D-Calif., is likely to find a receptive audience at ASU in Tempe on Monday as she talks about efforts to lower student loan interest rates.

The event marks her first domestic engagement since she became the first woman to lead the House of Representatives.

A House bill under consideration would slash student interest rates in half. The proposal would save the average lower and middle income borrower $4,420 over the life of their loans, according to a report released last month by the Arizona Public Interest Research Group.

The bill, if passed, would lower interest rates on undergraduate subsidized Stafford loans over the next five years until they are cut in half to 3.4 percent. The cut would start in 2011.

In the 2004-05 academic year in Arizona, 33,049 students at four-year colleges took out subsidized Stafford loans, the report said. The average borrower graduated with $14,801 in loan debt.

Pelosi will appear at 3 p.m. at the Memorial Union at 1290 S. Normal Ave. at Arizona State University. She will be accompanied at ASU by Reps. Harry Mitchell, Raúl Grijalva and Ed Pastor, all Arizona Democrats.

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