Tags: Student Loans

Senate Fails to Keep Student Loan Rates Low

Wednesday, 10 Jul 2013 01:24 PM

 

An effort to restore lower interest rates on student loans has failed in the Senate.

The White House and most Senate Democrats favored restoring interest rates on subsidized Stafford loans to 3.4 percent for another year. But lawmakers on Wednesday were unable to muster the necessary 60 votes to overcome a procedural hurdle.

That left interest rates at 6.8 percent — a rate that leaders from both parties called unacceptable.

Interest rates doubled on July 1 because Congress was unable to send a bill to President Barack Obama for his signature.

Few students so far have been affected because few sign their loans during the summer. But roughly a quarter of all federal lending is through the program and the new rates could affect millions of students.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Storm Blankets Midwest in Snow, Creeps Toward Northeast

Sunday, 01 Feb 2015 15:50 PM

A slow-moving winter storm blanketed a large swath of the Plains and Midwest in snow Sunday, forcing the cancellation of . . .

Illegals Could Wait Until 2019 to Have Cases Resolved

Sunday, 01 Feb 2015 11:13 AM

Thousands of immigrants seeking legalization through the U.S. court system have had their hearings canceled and are bein . . .

'American Sniper' Sets Super Bowl Weekend Record

Sunday, 01 Feb 2015 12:37 PM

American Sniper is nearing the $250 million mark after picking up $31.8 million to set a new Super Bowl weekend record. . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved