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
Senators hope for student loan deal soon as rate doubles
July 10th, 2013
06:00 PM ET
9 months 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
Republicans demand action on student loan interest rates
July 6th, 2013
06:00 AM ET
10 months ago

Republicans demand action on student loan interest rates

(CNN) - Rep. Lynn Jenkins, R-Kansas, faulted Senate Democrats on Saturday for this week's hike in student loan interest rates and urged the upper chamber to pass legislation that resolves the issue as soon as the holiday recess ends.

"For too long, politicians have been in charge of setting these rates, and we keep coming back to cliffs and deadlines like this one," Jenkins said in the GOP weekly address. "Paying for college is difficult enough without all this uncertainty. I have two kids in college, I know how hard it can be."
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Filed under: Congress • Education • Republicans
Deadline nears for higher student loan rates
June 25th, 2013
07:10 AM ET
10 months ago

Deadline nears for higher student loan rates

Washington (CNNMoney) - It's crunch time for students who rely on subsidized government loans - interest rates on them double to 6.8% on July 1.

Only Congress can hold the rates down, and so far it's not looking good. Washington lawmakers aren't close to agreeing on any deal to save the 7 million college students who are taking the subsidized Stafford loans this year.

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Filed under: Education
Student loan rates must stay low, Republicans say
June 22nd, 2013
06:00 AM ET
10 months ago

Student loan rates must stay low, Republicans say

(CNN) – With about a week to go before interest rates jump on certain types of student loans, Republicans are again calling on the White House and Senate Democrats to approve a plan that would avert the spike.

On July 1, rates will almost double on nonsubsidized Stafford loans given to college undergraduates unless Congress works to avoid the jump. Obama has applied pressure on Republicans to adopt his own plan to avoid the rate increase, but Republicans argue Obama basically agrees with their approach, which would tie the student loan rate to economic factors instead of leaving it up to Congress.
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Filed under: Education • House Republicans
GOP: Education system 'congested' with mandates
June 15th, 2013
06:00 AM ET
10 months ago

GOP: Education system 'congested' with mandates

(CNN) - A Senate committee voted this week to move forward with a Democratic-backed education plan, but Republicans argue the proposal forces the country's school systems to further rely on the federal government.

"Over the last decade, the United States Department of Education has become so congested with federal mandates that it has actually become, in effect, a national school board," Sen. Lamar Alexander, R-Tennessee, said Saturday in the GOP weekly address.
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Filed under: Education • Lamar Alexander • Republicans
Don't double the interest rate on my student loan
June 12th, 2013
08:48 AM ET
10 months ago

Don't double the interest rate on my student loan

Washington (CNNMoney) – Brandon Anderson's student loan will get costlier by $1,000, come July 1 - that's when interest rates on the loans are slated to double.

Anderson is among 7 million undergraduates with a personal stake in the debate in Washington over whether to hold down, or let the 3.4% interest rate to double for undergraduates borrowing subsidized federal student loans.

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Filed under: Education
Keep student loan rates low, Republicans say in address
June 8th, 2013
06:00 AM ET
11 months ago

Keep student loan rates low, Republicans say in address

(CNN) – With less than a month to go before rates jump on some student loans, Republicans are returning pressure from the White House on whose plan is better to avert the spike.

Rep. Luke Messer, R-Indiana, accused President Barack Obama in the weekly Republican address of rejecting a House Republican plan on political grounds, saying the president himself had proposed a similar measure in his annual budget.
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Filed under: Education • GOP
May 31st, 2013
01:00 PM ET
11 months ago

Obama repeats strategy in student loan fight

Washington (CNN) – If at first you succeed, then by all means, try, try again.

President Barack Obama returned to a successful strategy from last year's election campaign by calling Friday for college students and their families to mount pressure on congressional Republicans to prevent a jump in some student loan rates set to occur on July 1.

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Filed under: Education • President Obama
7 million students brace for surge in loan rates
May 28th, 2013
07:19 AM ET
11 months ago

7 million students brace for surge in loan rates

Washington (CNNMoney) - On July 1, the interest rates on student loans subsidized by Uncle Sam will most likely double to 6.8%.

Congress and the White House agree that something should be done to prevent that. They don't agree on what.

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Filed under: Education
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