Urgent Call to Take Action on Student Loan Interest Rates! This week, a bipartisan Senate deal was announced to reverse the recent doubling of federal student loan interest rates. The proposed agreement appears to have failed after the Congressional Budget Office yesterday scored the proposal as costing $22 billion over 10 years, which would further add to the federal deficit. Congress will now go back to the negotiating table. Under the proposed agreement, interest rates on new federal student loans would vary, based on the market, and would be pegged to the 10-year Treasury note, plus 1.8% for both the subsidized and unsubsidized portions of the Stafford loan, plus 3.4% for graduate loans and plus 4.5% for PLUS loans. The rates would be fixed for the life of a borrower’s loan, and the undergraduate rate would be capped at 8.25% while the graduate and PLUS loans would be capped at 9.25%. Please take action today! capwiz/aacom/issues/alert/?alertid=62771366&queueid=[capwiz:queue_id]
Posted on: Mon, 15 Jul 2013 18:48:24 +0000
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