Wake Forest high schoolers seek to cap student loan interest rates

A group of motivated Wake Forest High School students is seeking to convince state and local lawmakers to back them in an effort to cap interest rates for student loans at 1 percent.

Students in Jeremiah Mattingly’s AP Government and Politics class were each assigned a project to create a bill to send to local representatives.

The group that decided to focus on interest rate reform was inspired to do so because of their upcoming transition, for some, into higher education, and the financial burden that usually accompanies it.

“The past decade has marked a turning point in the expense that comes with the wisdom of a collegiate education, and high school graduates are faced with interest rates that spike with each coming year,” senior student Joaquin Gaspar Doppelt said. “The American dream seems to be slipping further and further out of reach, and the greed of Congress members are actively marring our future ambitions.”

The students who are spearheading the bill acknowledge that interest rates for student loans, which now reach 5 to 7 percent on the principle amount borrowed, put college graduates in a financial hole from which it can be difficult to escape.

They hope to convince lawmakers to take up the torch for their cause and help cap the rate at a more manageable level.

“This is unacceptable and our goal is to change this for us and future students,” they said.

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