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Re "Loan Rate Set to Rise, Despite Lack of Support" (news article, April 9):
As president of a college and university system with 19,000 students, I am keenly aware of the need to rein in tuition costs, which average upward of $36,000 a year at many four-year private institutions.
I am also concerned about adding an extra burden to students if Congress fails to act by July 1 and the interest rate on Stafford loans is doubled to 6.8 percent from 3.4 percent. That would add an average of $1,000 a year to the cost of a higher education.
As educators, we constantly grapple with ways to make college accessible to all, not just enclaves for the privileged. Our elected representatives in Washington must do their part to keep student loan costs down.
It is incumbent upon our lawmakers, Democratic and Republican alike, to stop playing politics with the cost of the Stafford loans and do the right thing for students by keeping the rate at 3.4 percent or lower.
ALAN KADISH
President and Chief Executive
Touro College and University System
New York, April 11, 2013
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