Senators hope for student loan deal soon as rate doubles
July 10th, 2013
06:00 PM ET
9 years 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."


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

    WHy should students get reduced loan rates?
    Why not citizens of the same age that work that apply for home loans?

    July 10, 2013 05:37 pm at 5:37 pm |
  2. Steve

    All annual income from all sources should be limited to what the President earns.. the rest should be tax revenue.

    July 10, 2013 05:38 pm at 5:38 pm |
  3. Peace

    Students should see now that not engaging in mid-term elections has consequences. 2014 mid-term election is just around the corner. You need to vote all of you and throw republicans away.

    July 10, 2013 05:39 pm at 5:39 pm |
  4. just wondering

    And let the Repuglicon War on Education Continue.... It works for them

    July 10, 2013 05:45 pm at 5:45 pm |
  5. Bob

    If the government is going to increase the interest rates on student loans, it should remove the provisions that the debt cannot be erased in any circumstances, including bankruptcy.

    July 10, 2013 05:49 pm at 5:49 pm |
  6. dalla

    What a bunch of cry babies! Life is full of choices, if you can't afford to go to school fulltime then go partime and work partime. Oh, that is too hard and takes too long! Wah! Wah!

    July 10, 2013 05:54 pm at 5:54 pm |
  7. rogue351

    And the GOP can’t understand why they cannot get the younger vote ? It is just easier to call them the generation of entitlements all the while cutting down their parents for how they raised them. Winning hearts and minds as well as pockets books, yes sir that what the GOP does best............NOT. As long as the big banks and their rich friends who run the big corps are making money who cares about anyone else.

    July 10, 2013 05:55 pm at 5:55 pm |
  8. a real solution

    OK, so here's a real solution to the problem. The Fed is printing $85 billion a month and throwing it out there. Let's just give every student $250,000 each and let them go to school instead. Then the students can pay the government back 25% of what they make until it is paid off. If they don't get a job then the person has to work cleaning the streets or doing other menial jobs for the government. It will be an incentive for them to get a real job. How does this deal sound kiddies? Care to sell your soul forward to the government?

    Well, this is not that much different that what you are doing now. Go for it!

    July 10, 2013 06:01 pm at 6:01 pm |
  9. PaddyReagan

    Defer the expanding cost of education so it's possible to pay the expanding cost of medical care.

    July 10, 2013 06:06 pm at 6:06 pm |
  10. CurmudgeonTx

    They say 51 to 49 is splitting along party lines, but there are not 51 or even 49% Republicans in the Senate. Some Democrats voted along with this.

    July 10, 2013 06:14 pm at 6:14 pm |
  11. free ride libbie

    Education should be free, free, free. I should be able to go to school as long as I want for free. When I graduate with my Masters Degree in Basket Engineering (formerly known as Basket Weaving), I am entitled to a six figure salary at a company that provides free day care for my part time position. I am owed this since I live in the wealthiest country on the planet. If you do not agree then you are a woman hating hill billy that doesn't value education.

    July 10, 2013 06:17 pm at 6:17 pm |
  12. tjhmax

    Congress, especially the Republicans, is hell bent on bringing our economy to its knees in the future. If future graduates are unable to spend money, our economy will suffer!
    They don't mind keeping home loans interest rates artificially low, but won't do the same for future tax payers.

    July 10, 2013 07:19 pm at 7:19 pm |
  13. Pete

    Well republicans is the dumming down of America pleasing you..Do you want someone illiterate taking care of you in your old age or do you think you can wing it without help,just a word to the wise watch who you hire republicans especially is they have trouble speaking English so you can save a buck!!That's just one scenario if you keep screwing up these kids you'll pay republicans because as you probibly know most college students looking for help are voting age nitwits..Just another nail in republicans coffins isn't it and it'll be a pleasant sight seeing republicans heading out of Capital Hill for the last time after midterms won't it!!!

    July 10, 2013 09:13 pm at 9:13 pm |
  14. Thomas

    There is nothing in the Bible about government-backed student loans !

    July 11, 2013 01:19 am at 1:19 am |
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