Obama signs student loan bill
August 9th, 2013
03:07 PM ET
12 months ago

Obama signs student loan bill

Washington (CNN) – President Barack Obama signed bipartisan legislation into law Friday that will temporarily reduce rates people pay on their student loans from the government.

In the immediate, interest rates will go down to 3.86% for undergraduate students and 5.41% for graduate students.
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Filed under: Congress • Education • President Obama
Congress OKs cheaper student loans
July 31st, 2013
06:40 PM ET
1 year ago

Congress OKs cheaper student loans

Washington (CNNMoney) - The House on Wednesday approved a bipartisan that ensures lower interest rates on loans for students heading to college this fall.

Members of the House voted 392 to 31 to lower rates for undergraduates taking out government loans this school year to 3.86% - cheaper than the 6.8% interest rate that kicked in on July 1. The new rates would be retroactive and apply to loans taken out after July 1.

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Filed under: Congress • Education
Senate passes student loan measure
July 24th, 2013
06:36 PM ET
1 year ago

Senate passes student loan measure

Washington (CNNMoney) - The Senate on Wednesday approved a bipartisan deal that ensures lower interest rates on loans for students heading to college this fall.

Senators voted 81 to 18 to lower interest rates for undergraduates taking out government loans this school year to 3.86% - cheaper than the 6.8% interest rate that kicked in on July 1. The new rates would be retroactive and apply to loans taken out after July 1.

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Filed under: Education
Republicans pass ‘No Child Left Behind’ replacement
July 19th, 2013
07:09 PM ET
1 year ago

Republicans pass ‘No Child Left Behind’ replacement

Washington (CNN) – A Republican-backed attempt to give local and state governments greater power over their school systems, while reducing federal education funding, passed the U.S. House on Friday, though it was expected to face Democratic resistance in the Senate and President Barack Obama has vowed to reject it.

The measure was the first major attempt to replace the “No Child Left Behind” law that was signed by President George W. Bush in 2002, but later expired and has not been renewed.
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Filed under: Education
Cheaper student loans after Senate deal, for now
July 19th, 2013
07:16 AM ET
1 year ago

Cheaper student loans after Senate deal, for now

Washington (CNNMoney) - A bipartisan deal on student loans announced by a group of senators Thursday will help students, but only in the short-term.

According to the deal, undergraduates taking out loans this fall will pay just 3.86% in interest on new loans for this school year - cheaper than the 6.8% interest rate that kicked in on July 1. The new rates would apply for loans taken out after July 1.

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Filed under: Congress • Education • Senate
Tentative deal reached on Senate student loans package
July 17th, 2013
10:52 PM ET
1 year ago

Tentative deal reached on Senate student loans package

Washington (CNN) - A bipartisan group of senators reached a tentative agreement on a student loans package Wednesday night, multiple aides from each party said.

Sen. Tom Harkin, Democratic chairman of the committee that oversees federal education programs, agreed to the deal, one of those sources close to the negotiations told CNN.

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Filed under: Education • Senate
Student loan deal emerges in Senate
July 11th, 2013
05:17 PM ET
1 year 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
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
Republicans demand action on student loan interest rates
July 6th, 2013
06:00 AM ET
1 year 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
1 year 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
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