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Student Loan Interest Elimination Bill | Montpelier News
A bold new bill aims to slash student debt by eliminating interest on federal loans and capping future rates—without raising taxes—using a trust fund managed by the Department of Education. As college costs soar and average student debt doubles since 2007, Senator Peter Welch argues graduates shouldn’t be punished for pursuing education. With nearly 78,000 Vermonters drowning in $2.9 billion in federal loans, this proposal could ease the crushing burden on a whole generation. But the bill’s path to passage is steep, facing tough scrutiny in Budget and Education committees—and likely a long…
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