New Van Hollen Ad: Student Loans And Education

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John Fritze reports in the Sun on a new Chris Van Hollen ad focused on his fight to end exorbitant student loan interest rates when he was first elected to Congress in the early 2000s, as well as his role in establishing the Thornton funding formulas for Maryland schools.

Rep. Chris Van Hollen’s campaign for Maryland’s open Senate seat is airing a new television ad that calls attention to an education loan scandal he helped expose more than a decade ago as new member of Congress.

The Montgomery County Democrat was an early proponent of closing a loophole created in the 1980s that guaranteed student loan lenders a 9.5 percent interest rate on certain loans — a return that became lucrative for lenders when market rates fell. Taxpayers spent hundreds of millions of dollars to make up the difference.

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