HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Politics 2014 (Forum) » Divided Congress likely t...
Introducing Discussionist: A new forum by the creators of DU

Mon May 7, 2012, 02:57 PM

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.

-snip-

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.

-snip-


Read more: http://www.reuters.com/article/2012/05/07/us-usa-congress-studentloans-idUSBRE8460VS20120507

0 replies, 411 views

Reply to this thread

Back to top Alert abuse

Reply to this thread