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"Let me be clear: Senate Democrats’ unwillingness to follow your lead is the only thing standing in the way of a long-term solution for students," Boehner wrote. "I urge you, as president and the leader of your party, to compel your Democratic colleagues to pass a market-based student loan bill before you leave the country next week."
In just 10 days, interest rates on federally-subsized loans for millions of students are set to double from 3.4 percent to 6.8 percent -- unless Congress acts. Obama's approach in his fiscal 2014 budget to link the rate to the 10-year Treasury yield is broadly backed by Republicans and opposed by Senate Democrats.
In just 10 days, interest rates on federally-subsized loans for millions of students are set to double from 3.4 percent to 6.8 percent -- unless Congress acts.
Originally posted by Nephalim
reply to post by Wrabbit2000
Might as well issue a permanent cap on those rates for 1-2% OR eliminate interest altogether.
edit on 20-6-2013 by Nephalim because: (no reason given)