Congress approves student loan plan

http://www.washingtonpost.com/politics/congress-approves-student-loan-plan/2013/07/31/e3df776a-f9f4-11e2-8752-b41d7ed1f685_story.html?hpid=z4

are we to be impressed that the do nothings reversed there holding hostage the student load program for more of our rights, they saw the writing on the wall and like the article says millions will be getting loans that translates into millions of voters, move of necessity not concern for the raking their institutions would do to those students before they got their first check.

The millions of college students and parents who will borrow money from the federal government for the coming school year can plan on much lower interest rates than originally offered, as the U.S. House overwhelmingly voted 392 to 31 on Wednesday to approve a Senate plan that would allow interest rates to move with the financial markets.

The plan now goes to President Obama, who has already voiced support. House Republican leaders have deemed this a long-term solution, while many Democrats have said this plan will probably need tweaking in future years.

 Undergraduates who take out federal loans for the coming school year can expect an interest rate of 3.86 percent, while the rate for graduate students will be 5.41 percent. The interest rate for PLUS loans, available to graduate students and parents of students, will be 6.41 percent. All of those rates are lower than current fixed rates of 6.8 percent for Stafford loans and 7.9 percent for PLUS loans.

why was this and every other cave in by the right necessary, wasting those tax dollars they claim they covet just to do the right thing, had they not tried to grease the banks with the blood of students overwhelmed with charges just to get an education they would have saved money not made themselves look like Scrooge McDuck and the drama would have not again stained their coats, running out of room on those.