http://www.usnews.com/opinion/articles/2013/06/28/should-congress-allow-student-loan-interest-rates-to-double
Student loan interest rates are set to double July 1, from 3.4 percent to 6.8 percent but a gridlocked Congress has yet to act to prevent the hike from taking effect.
The interest rate increase on Stafford loans would bring subsidized loans up to the same rate as unsubsidized ones for any new undergraduates seeking assistance financing college. In 2007, both types of loans had an equal interest rate of 6.8 percent, but a bill in Congress gradually reduced the subsidized rate, reaching 3.4 percent in 2011. Its aim was to make college more affordable and was to last until 2013, but the reduced rates were ended for budgetary reasons and the law's expiration was moved to 2012. Last June, it was extended one year in a compromise after President Barack Obama encouraged Congress to keep the lower rates.
what is it with congress every positive bill or initiative they either want to kill it or put it out of reach for middle class and low income citizens?
and note the stories always starts off with "if congress, or will congress or unless congress tends to imply the outcomes are contingent of congress doing the right thing.
is it their plan to keep Americans who can't afford it undereducated if so the plan won't work we already know what they are doing and their record will repeat endlessly so they dumb our kids down but they keep the same agenda. DUH!!
There are differing proposals in Congress to deal with the issue. House Republicans want to allow student interest loan rates to vary year to year, pegged to the U.S. treasury rate. It passed a bill that would match student rates to the treasury rate, plus 2.5 percentage points, but it has not been taken up in the Senate and Obama said he would veto it.Republican Rep. John Kline of Minnesota, chairman of the House Education and Workforce Committee and author of the House bill, accused Senate Democrats of obstructing a solution to the issue by refusing to take up the bill, and said the "11th-hour scrambling" demonstrates why politics shouldn't be a part of the debate:Our students deserve better. We're in this predicament because politicians put themselves in charge of setting interest rates, guaranteeing exactly this type of down-to-the-wire uncertainty for students and their families. What we need is a long-term solution that gets Washington out of the business of setting rates altogether.Obama's plan to keep interest rates low would also peg them to the treasury, but add .93 percentage points. Senate Democrats don't like either the House plan nor Obama's, and have proposed several different plans. With a lengthy debate on immigration legislation just having ended, the Senate is unlikely to pass any plan before the July 1 deadline.Some say the business of student loans should be left to private companies, with the government staying out altogether.
we all know where that mislead is going back to the banks, have you noticed every right wing plan starts off with send it back, for a party claiming it wants to move the country forward they really do need to change the words, "take our country "back", send it "back" to the states, send it "back" to the banks", no new plan just rehash the same car wreck of a idea as before which their insanity won't allow them to realize it's the same map back to their ditch.
