Boulder Rep. Jared Polis Pushing Student-Loan Reform Legislation

Ann McClure's picture

Congressman Jared Polis, D-Colo., visited the University of Colorado campus today to discuss his new proposed student-loan legislation that would add disclosure requirements for private lenders.

About 40 percent of students with private loans have not hit the ceiling on the federal loans they are eligible to borrow, according to the Consumer Financial Protection Bureau.

Interest rates on federal Stafford loans are 3.4 percent; private loans average 7.8 percent.

“One factor contributing to college costs soaring is that many students aren't taking full advantage of the most affordable student loans,” Polis said at the event in the University Memorial Center.

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