NC Senator Comments on President Signing Bill

U.S. Senator Kay R. Hagan (NC) commented a bill signed by the President that prevents student loan interest rates from doubling on North Carolina students and funds transportation projects across the state.  Hagan said. “I am relieved the House and Senate finally put partisanship aside to move this important legislation forward….”  The bill prevents student loan rates from doubling from 3.4 to 6.8 percent. Without this legislation, 160,000 North Carolina students would have paid an additional $1,000 in interest during the 2012-2013 academic year.  The surface transportation bill also provides certainty and funding for North Carolina construction projects that have relied on nine consecutive short-term funding measures since 2009. The legislation supports 27,600 jobs and allows $981.4 million worth of construction projects in North Carolina to continue.  Sen Hagan said, “These funds will be used to improve our roads, bridges and mass transit systems – projects that will put North Carolina back to work and help us compete in the 21st century global economy.”  And again, Sen Hagan’s scheduled stop in North Wilkesboro this week has been postponed to a later date.