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ConnPIRG, which represents students at colleges across the state, has worked to spotlight the impact student loan debt has on society.
Abe Scarr, director of the consumer group, said graduates are delaying home purchases and business ventures while others are choosing high-paying jobs to repay their loans instead of going into careers in public service. Others are forgoing a higher education, Scarr added.
ConnPIRG did not support the final agreement on the student loan rates since rates will rise so the government can pay down the deficit, he said.
'Not a good deal'
"We think that is the wrong way to be making student loan policy," Scarr said. "It's not a good deal for the students in Connecticut or the country."
According to the national organization, U.S. PIRG, current undergraduate and graduate students will save $3,600 and PLUS loan borrowers will save $2,100 now through the lower rates. But in 2018, undergraduates will be paying $900 more, graduates will be paying $7,700 more and PLUS loan borrowers will be paying $2,750 more, according to the data.
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