Student Loan Interest Rates Still Doubled: The Senate rejected a - TopicsExpress



          

Student Loan Interest Rates Still Doubled: The Senate rejected a bill that would have restored a 3.4 percent interest rate on federally backed Stafford loans for education. The deadline for extending the lower Interest rate came weeks ago as lawmakers left Capitol Hill for their July 4th recess. Now that the rate has doubled, lawmakers could pass legislation that would reinstate the low rate and extend it until 2014. The Controversy: The bill was estimated to cost $22 billion over ten years. Republicans want to minimize the expense to taxpayers, while Democrats have sought to reduce the profit the Treasury makes off students financing their education through the loan program.
Posted on: Tue, 16 Jul 2013 12:33:39 +0000

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