Student loan deal emerges in Senate
July 11th, 2013
05:17 PM ET
9 months ago

Student loan deal emerges in Senate

Washington (CNNMoney) – A bipartisan group of senators has reached a tentative deal to help students facing a doubling of interest rates to 6.8% on government-backed student loans.

The deal, which would have to pass a Senate vote, calls for interest rates on all government Stafford loans for students to be pegged to rates on the 10-year U.S. Treasury note, according to multiple sources close to the negotiations.

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Filed under: Education • Senate
soundoff (2 Responses)
  1. Data Driven

    60 votes needed in the Senate. Majority needed in the GOP House.

    Just dump the whole thing in the circular file. Nothing will get done in Washington D.C. until one party completely rules both houses of Congress and the Executive. And the experts say that won't happen in 2014, 2016, or maybe ever.

    Call it the kinder, gentler Civil War.

    July 11, 2013 05:57 pm at 5:57 pm |
  2. Bill from GA

    We give Big Banks money almost interest free.
    but McConnell says we can't loan to students without making a profit. How bout we invest in the future generations of Americans.

    July 11, 2013 06:27 pm at 6:27 pm |