By Seth Maloney | 3 comments
The student loan compromise: Raise rates and don't pay attention to polls
It isn't a stretch of the imagination to realize that people want lower interest rates, and the last 6 weeks has seen an intense fight by the GOP to do anything but that.
Senate Democrats have backed a bill that would peg interest rates to the 91-day Treasury note rate plus a percent decided by the Education secretary. It would cap interest rates for the subsidized portion of the loan at 6.8 percent and the unsubsidized portion and graduate loan at 8.25 percent. It also includes the White House proposal to expand the income-contingent loan repayment plan. - RollCall
What does that mean for voters and college grads? You can find out here :
Student loan rates are set to double on July 1st. Check out the full infographic to see the bigger picture.
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