Debbie Stabenow: “Do I understand correctly, though, that for a student next year who took out a loan, it might be higher? If a student…”

“Do I understand correctly, though, that for a student next year who took out a loan, it might be higher? If a student took out a loan in year 3, it might be higher? It is my understanding that over time, over the next 3, 4, 5 years, we are looking at rates at least of doubling, if not more. The Senator is saying cap it at 8.25. That is a lot more than doubling of the rates that will happen right now. But is it accurate to say if the year in which you are taking out the loan, depending on whether it is next year, the year after, the year after, that it would be in anticipation that the interest rate would rise?”