This week the Senate will be voting on “Stop the Student Loan Interest Rate Hike Act” (S. 2343), preventing subsidized Stafford Interest rates from doubling from 3.4% to 6.8% on July 1st, 2012. By closing tax loopholes and ensuring that everyone pay their fair share in taxes, Congress has the power to make sure that higher education remains attainable for low-income and working students. This vote will affect over 7 million students and cost the average borrower $1,000 over the life of the loan.