"Manufactured crisis" likely to double student loan interest "Dueling measures in the Senate would have kept interest rates on some student loans from moving from 3.4 percent to 6.8 percent, although separate Republican and Democratic proposals each failed to win 60 votes needed on procedural votes. The failure means that unless lawmakers can find a rare bipartisan agreement, students are likely to face higher rates on new subsidized Stafford student loans this fall but enjoy greater certainty on the interest they will be expected to pay during the life of their loans." “I cannot understand why we’re having a problem with this,” Senate Majority Leader Harry Reid told reporters after the vote. The top Republican on the Senate education panel seemed to share that frustration. “If we can’t agree on this, we can’t agree on anything,” said Sen. Lamar Alexander. “This is a manufactured crisis.” " freep/article/20130606/NEWS15/306060106/Student-loan-rates "The student debt fight is back -- with a vengeance. Once again, current students are facing the possibility of interest rates on Stafford Federal student loans doubling. Once again, we are asking what our leaders are doing about a crisis that gets worse every year. Once again, the answer is: Not much. That is a huge problem -- and not just for millennials, or young people born between 1980 and 2000. The approximately $1.1 trillion in student debt out there already constitutes a crisis for every one of us." cnn/2013/06/06/opinion/jones-student-loans "Another great infographic on student loan debt from Demos. (via Greg Kaufmann at This Week in Poverty)" billmoyers/2013/06/02/the-true-size-of-the-student-debt-crisis/ Photo Credit: https://facebook/StudentDebtNoiseBrigade ~BB
Posted on: Sat, 08 Jun 2013 18:54:22 +0000
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