New York Sen. Charles Schumer visited campus Monday in support of a bill that would keep the student loan interest rate at 3.4 percent.

Students must fully inform themselves about the bill before supporting it. Students also should consider all the different repercussions and possibilities concerning student loan interest rates.

The bill Schumer is endorsing comes from a senator in Rhode Island and would keep the current student loan interest rate for one more year. Rates are set to double from 3.4 percent to 6.8 percent July 1. It would benefit students to keep student loan interest rates at a lower percentage, as that means students have less to pay back. At Syracuse University, 9,483 undergraduates, or 80 percent, are recipients of Stafford loans.

There are no provisions for what would happen the year after the bill runs out. It’s unclear whether the rate would jump to a much higher interest rate. Instead of increasing to 6.8 percent, the rate could potentially rise much higher. But the bill could also give government officials more time to look into different options that would keep the student loan interest rate from rising after the one-year mark is up.

Student loan interest rates are of great concern now, as unemployment levels for college graduates are high. The overall national unemployment rate is at 8.2 percent. Students do not need to begin to pay back Stafford loans until six months after they graduate, but not all students will have secured jobs six months after graduation.