Legislative Activity Student Loan Interest Rates Last week, the Senate passed its student loan interest rate compromise bill by an 81-18 vote. As previously noted, this proposal would peg interest rates to the 10-year Treasury note, plus 2.05 percent for both the subsidized and unsubsidized portions of the undergraduate loans, plus 3.6 percent for graduate … Continue Reading
Legislative Activity Student Loan Interest Rates A bipartisan group of senators, led Majority Whip Dick Durbin (D-IL), announced another agreement on student loan interest rates last week. The deal, which represents a new scheme that shifts to market-driven variable interest rates, was announced after Sen. Tom Harkin (D-IA) ultimately agreed to support it. According to reports, … Continue Reading
Legislative Activity Student Loan Interest Rates The agreement reached on a student loan interest rate package last week has been disrupted after a Congressional Budget Office (CBO) score estimated a $22 billion (over 10 years) cost to the proposal. A bipartisan group consisting of Democratic Senators Joe Manchin (WV), Tom Carper (DE), and Dick Durbin … Continue Reading
Legislative Activity Student Loan Interest Rates As the Senate continues consideration of the Farm Bill, there may be discussion on an amendment (S.A. 976) that would extend the 3.4 percent fixed student loan interest rate for two years, although consideration of this issue will likely take place separate from the Farm Bill. This week, the … Continue Reading
