State Representative Marvin Pendarvis (D-North Charleston) will hold a town hall on ending the “debt trap” in South Carolina on Wednesday, March 16th at 6 pm at Royal Missionary Baptist Church in North Charleston.
“Lending companies are taking advantage of South Carolinians,” Pendarvis said. “Getting a college education should not result in a lifetime of debt due to high interest rates. I'm looking forward to having a discussion about how capping interest rates can level the playing field and bring relief to South Carolinians.”
The event is being hosted in conjunction with the S.C. Fair Lending Alliance, which is comprised of various faith communities, non-profits, and community development organizations.
The topic of the town hall discussion will be about ending the debt trap in South Carolina by capping interest rates at 36%. For more information, visit CapRateSC.com.
South Carolinians owe $26.8 billion in student loans, according to Student Loan Hero, a company that helps borrowers navigate the world of student loans.
