Senators hope for student loan deal soon as rate doubles
July 10th, 2013
06:00 PM ET
1 year ago

Senators hope for student loan deal soon as rate doubles

Washington (CNN) - A Democratic measure to temporarily reverse the doubling of interest rates on millions of government-backed student loans fell short in the U.S. Senate on Wednesday, but there was hope a bipartisan deal would be struck soon to remedy the situation.

"We're trying to find some common ground," said Sen. Richard Durbin of Illinois, the No. 2 Democratic leader who spearheaded fresh talks on the dispute. "We don't have an agreement and I can't say when or if we'll come together."

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Filed under: Education
soundoff (264 Responses)
  1. Jim

    If anyone votes for these guys come election time, they need to get their brains looked at. This group of politicans does not care what the people want, nor do they care what we think unless its before an election. I am sure that they talk to each other and say that the people are dumb and do not know anything. Maybe we the people can do a job on them and send them packing.

    July 10, 2013 01:24 pm at 1:24 pm |
  2. Gem

    Mike - when there's no jobs out there - people need to get training in other area's. You maybe haven't been personally affected - many others have. So, stop judging without being in a person's shoes.

    July 10, 2013 01:25 pm at 1:25 pm |
  3. frankpendle

    i have very little love for Republicans or Democrats, tbut Christ, Republicans.. . really? the financial services lobby must have gone into overdrive to push this one through.

    investing in higher education is a no-brainer. if there's anything a government should do, it should be to make education more accessible. shame on whoever voted against this.

    July 10, 2013 01:25 pm at 1:25 pm |
  4. djskxx

    How unfair. I really do hate the rulling class. The founding fathers probably knew they would contribute to inequality for human descendants who would reside on the North American continent. I hope the modified H5n1 publication causes mass extinction across the globe and we may then as a species venture into sustainability, equality, and low earth orbit/solar system colonization.

    July 10, 2013 01:25 pm at 1:25 pm |
  5. Marie

    And people keep voting them into office...I thought the Senate and the Congress were elected to serve the people? Yet banks/credit card companies/morgage companies are allowed to continue to raise interests rates/ajustable rates. Isn't called stealing?

    July 10, 2013 01:25 pm at 1:25 pm |
  6. America Suckered Again

    The first step towards controlling rampant education costs and debilitating debt on our young people.

    July 10, 2013 01:25 pm at 1:25 pm |
  7. Dutch/Bad Newz, VA -aka- Take Back The House -aka- No Redemption Votes

    So the FAA can get a pass but students can't? You GOPers are toast next year! You can't even follow the advice of young republicans who say that your old, racist, and out of touch. Hey Priebus, I love this re-branding effort you've got going on.

    July 10, 2013 01:26 pm at 1:26 pm |
  8. onehappyguy

    Wow. The GOP is fighting for a better deal for students, you knuckleheads! Pay attention. The GOP is for the students, not against. Good grief.

    July 10, 2013 01:26 pm at 1:26 pm |
  9. mehrrh

    Tell it like it is - the Republicans filibuster everything - requiring 60 votes so nothing will pass.
    Republicans are 10% to blame for the gridlock in Washington while the people suffer - they don't care - they want to ruin the Obama presidency. That's their only goal and they take no prisoners. It's their way all the way.

    July 10, 2013 01:26 pm at 1:26 pm |
  10. Sniffit

    "The U.S. Senate voted Wednesday against taking up a Democratic measure to temporarily reverse the doubling of some student loan rates, "

    LIE. Not it did not. It voted in favor of it but could not overcome the broken filibuster rules.

    STOP. PRINTING. MISREPRESENTATIONS.

    July 10, 2013 01:26 pm at 1:26 pm |
  11. Smarter than ewe

    Not everyone needs to go to college. And the extra percentage won't stop or even really hurt those who do. You can always go to a state school or mop the floor of an ivy league school?

    July 10, 2013 01:26 pm at 1:26 pm |
  12. Mr Johnson

    The subsidies have to stop. If you can't afford it or can't afford to pay the interest rates on borrowed money, don't borrow it. Not every child can go to ivy league colleges or their "dream" or "party" college. You sign for it, you pay it. I continue to pay my mortgage with interest because I signed a contract. I did not sign a contract that had a clause "if something better comes along" or "if the gub-mit is handing out free money".

    July 10, 2013 01:26 pm at 1:26 pm |
  13. RobertAllen

    ... as we come down to the wire, it's Low Student loan interest in front followed closely by High Student loan interest who's closing fast, at the wire it's High Student loan interest by a nose. High Student loan interest is owned by The Banks and trained by Gary Greed, ridden today by I.M Stoopid.

    So it goes on and on as the regressives continue to reload and shoot themselves in the foot again and again and again.

    July 10, 2013 01:27 pm at 1:27 pm |
  14. dave

    Just stating a fact that seems to be lost on many; this rate increase does NOT affect any current loans already taken out. The media has run stories after stories of all the students with large student loan debts, with some time of indication on how this will hurt them. I am NOT saying the rate increase is a good thing, but FACTS are it does NOT affect any current loans.

    July 10, 2013 01:27 pm at 1:27 pm |
  15. Parfin Woodel

    Woman
    Gays
    Immigrants
    Blacks
    Latinos
    Elderly
    poor

    you can now add Students to list of the alienated.
    Nice job losers.

    July 10, 2013 01:27 pm at 1:27 pm |
  16. Frank's son

    Things may be different now than they were when you signed your agreement. The fact of the matter is incomes have gone stagnant, jobs have become scarce, yet the cost of an education has skyrocketed. It is a different world than the one the baby boomers grew up in, and now they are making all the decisions in Washington. Younger Americans need to become more engaged, not led around by the nose. Is the goal to make the extremely wealthy and influential responsible for supporting and guiding our economy? If so, we're doing a fabulous job. Not a sustainable model, in my opinion.

    July 10, 2013 01:27 pm at 1:27 pm |
  17. Anonymous

    We encourage our children to go to college..but if you don't have the money to pay, they take out loans. Then when they graduate, they can't find jobs and have a huge student loan payment. We might as well tell our young "If you can't afford college, don't go". It is a viscous cycle! SAD!

    July 10, 2013 01:28 pm at 1:28 pm |
  18. mehrrh

    The Republican filibuster wins again and the people lose.

    July 10, 2013 01:28 pm at 1:28 pm |
  19. scott

    rs

    ANOTHER Republican filibuster. The obstructionist party rides on!

    July 10, 2013 01:17 pm at 1:17 pm |
    ___________________________________________
    What part of the Democrats CONTROL the Senate don't you get?? THe Repubs are not at fault. Your liberal Democrats in the Senate and their were a few that voted aganst it also.

    July 10, 2013 01:29 pm at 1:29 pm |
  20. jules

    Frank Pall – if you were paying attention you probably did cut your mortgage rate in half or close to it. I know we did.

    July 10, 2013 01:29 pm at 1:29 pm |
  21. Gem

    Mr. Johnson - what does that have to do with it? People are paying their loans and agree to the terms. Yet, with the economy and how things have gotten, perhaps the govt. should look at what's in their people's best interest. if they can compromise on lower rates, esp. under trying times, that sounds right. Stop acting like a holier-than-thou dude.

    July 10, 2013 01:30 pm at 1:30 pm |
  22. Sniffit

    Go go gadget OUTREACH!

    July 10, 2013 01:32 pm at 1:32 pm |
  23. Bob Dole

    djskxx, you do realize that if H5n1 starts to wipe out the population that only the ruling class will have the vaccine and then nothing will change. Within a few generations there will be inequality again.

    July 10, 2013 01:32 pm at 1:32 pm |
  24. Jimmy

    Lower interest rates for student loans only allows college cost to rise.

    College cost are alreday way out of line with the cost benefit.
    because colleges don't tie their curriculm with current job market needs.

    July 10, 2013 01:32 pm at 1:32 pm |
  25. America Suckered Again

    Maybe this will get our universities interested more in education and less in construction. We all just marvel at the expanse of some of these palaces, but seriously our nation is $16 trillion in debt. Sorry, but maybe the educational institutions can give a nod to efficient financial management along with the rest of us.

    July 10, 2013 01:32 pm at 1:32 pm |
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