Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Divided Congress likely to agree on student loans
Source: Reuters
Divided Congress likely to agree on student loans
By Thomas Ferraro
WASHINGTON | Mon May 7, 2012 2:32pm EDT
(Reuters) - One way or another, the Congress seems certain to prevent a low interest rate for federal student loans from doubling on July 1, aides and analysts say, largely because lawmakers do not want to rile young voters before the November 6 elections.
Yet it remains unclear how - or even if - Congress will pay for a one-year-renewal of the 3.4 percent rate for about 7.4 million students, which would cost about $6 billion.
[font size=1]-snip-[/font]
Regardless, members of both sides voice confidence that someway, somehow, a bipartisan agreement will be reached before July 1, when the rate is set to double to 6.4 percent on subsidized student "Stafford" loans.
A senior Democratic aide predicted that bipartisan talks would begin on Tuesday after the anticipated Republican blocking of the Democratic funding proposal, and the Democratic rejection of the House-passed Republican bill.
[font size=1]-snip-[/font]
By Thomas Ferraro
WASHINGTON | Mon May 7, 2012 2:32pm EDT
(Reuters) - One way or another, the Congress seems certain to prevent a low interest rate for federal student loans from doubling on July 1, aides and analysts say, largely because lawmakers do not want to rile young voters before the November 6 elections.
Yet it remains unclear how - or even if - Congress will pay for a one-year-renewal of the 3.4 percent rate for about 7.4 million students, which would cost about $6 billion.
[font size=1]-snip-[/font]
Regardless, members of both sides voice confidence that someway, somehow, a bipartisan agreement will be reached before July 1, when the rate is set to double to 6.4 percent on subsidized student "Stafford" loans.
A senior Democratic aide predicted that bipartisan talks would begin on Tuesday after the anticipated Republican blocking of the Democratic funding proposal, and the Democratic rejection of the House-passed Republican bill.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/2012/05/07/us-usa-congress-studentloans-idUSBRE8460VS20120507
