Advertisement

American Press

Thursday, March 23, 2017
Southwest Louisiana ,


Senators: Student loan interest rates to double

Last Modified: Thursday, June 27, 2013 2:25 PM

WASHINGTON (AP) — Interest rates on new student loans are going to double because the Senate does not plan a vote before Monday's deadline.

The chairman of the Education Committee and other Democrats said Thursday that the Senate would vote on July 10 on a one-year extension of the current interest rates. Without congressional action, rates on subsidized Stafford loans are set to go from 3.4 percent to 6.8 percent on July 1.

Iowa Sen. Tom Harkin says lawmakers could pass a bill that retroactively lowers rates after they double on Monday.

A previous attempt in the Senate to extend rates for two years failed to overcome a procedural hurdle.

The House has already passed a student loan proposal.

Comment on this article

captcha 967acadb8e6d48fba73d0e2a7ba91948



Copyright © 2017 American Press

Privacy Policies: American Press