As many of our readers know, if Congress doesn't Act, interest rates on federal (Stafford) student loans will double from 3.4% to 6.8% on July 1. Senate Republicans just blocked a vote on a bill that would keep the rate at 3.4% because the difference to the federal treasury between the two interests rates would be "paid for" by closing a tax loophole that benefits wealthy stock holders of private companies. Read about it here.
UPDATE: Get updated information on the Senate vote here.
Comments