House Republicans’ Student Loan Interest Bill Actually Not That Bad
Minnesota Congressman John Kline (R-MN), the Chairman of the House Education and the Workforce Committee, and Virginia Foxx (R-NC), Chairwoman of the Subcommittee on Higher Education and Workforce Training, co-introduced legislation yesterday to tackle the upcoming student loan interest rate hike by returning to variable interest rates on student loans. The Smarter Solutions for Students Act, otherwise known as H.R. 1911, seeks to tie the federal student loan interest rate to a market-based interest rate (similar to the plan put forth by President…
Elizabeth Warren Knows That Students Are As Important As Banks
Our nation’s largest banks can borrow funds from the federal government at 0.75%. If Congress doesn't act, college students eligible for subsidized Stafford loans will pay 6.8 percent (more than nine times the rate big banks get). Senator Elizabeth Warren thinks this is unfair and has introduced the Bank on Students Loan Fairness Act to provide students with some short-term relief until a long-term solution to rising student loan debt can be reached. Warren’s bill would allow students who are eligible for federally…
