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Vote to decrease student loans fails - abc27 WHTM

Vote to decrease student loans fails

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YORK, Pa. (WHTM) -

It's no secret that paying for college is costly, and it seems to be getting more expensive with each passing year.

Catherine Maher is going to be a junior at York College. Only halfway through her four-year education, and already she is burdened with loans.

"It's discouraging, it's terrifying. I mean, I am going to be 20 next month, and I am already $20,000 in debt," said Maher.

Interest rates doubled to 6.8% on July 1st for Subsidized Stafford loans. Maher says before the rates doubled, it was already a challenge to afford them.

"I have had to take out loans, and it's already overwhelming. The interest rates are huge already," said Maher. "You have to get an education, and it seems like it is almost impossible to afford an education now. It's disappointing."

But she is not alone. Over at Penn State's York campus, Emily Beaverson is facing the same hurdles. "Honestly I wanted to cry," said Beaverson.

She works part-time to try and pay for her education, but admits it's not nearly enough.

"If you are a full-time student, you can't really have a full-time job too 'cause you have to have time to study and get the good grades," said Beaverton.

Students across the country are all in the same sinking boat, and they see no end in sight.

"It's exhausting honestly, it just seems like everyday I wake up and I have an email from whatever government loan I have," said Maher.

Today's vote to lower the interest rates failed. With the rates sticking, the average student can expect to pay an extra $2,600.

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