Student Loan Battle
There was a big fight in D.C. this past week over student loans.
The issue is a scheduled increase in interest on new student loans from 3.4% to 6.4% set for July 1. Clearly this is a dumb plan. I don’t see any political opposition to the idea that the summer of 2012 is a horrible time to double the cost of student loans. It will shock no one that the ‘solutions’ being put forward by the politicos are the same ones they propose for every other problem.
The Senate today will vote on a Democratic plan to prevent a scheduled increase in the interest rate on federal student loans. The bill proposes extending the current rate on student loans, and paying for the extension by closing a ... Read Post
Be sure to check out this op-ed on Yahoo Finance regarding Senator Warren's proposal to cut interest rates on federal student loans. This Ed Money Watch post has a rundown of all of the pending proposals, including the one sponsored... Read Post