While commercial and personal borrowers are currently enjoying historically low interest-rates on loans, and big banks are able to obtain loans at less than one percent interest, student borrowers have had to fight against lawmakers looking to raise interest rates on federally subsidized student loans. With the rates on Stafford loans set to bounce back to 6.8% from 3.4% on July 1, Massachusetts Senator Elizabeth Warren has introduced legislation that would actually lower that rate for one year to only .75%. [More]
Sen. Warren Introduces Bill To Lower Rates On Student Loans To .75% For One Year
By May 9, 2013
Congress Doubles Up, Extends Student Loan Subsidies While Funding Transportation Programs
By June 29, 2012
As we mentioned the other day, the clock was ticking on Congress to agree on an extension to subsidies that would keep interest rates from doubling on federal Stafford student loans, and that this agreement would likely be tied to a bill recertifying lawmakers’ authority to spend money on federal transport initiatives. Well, with a vote of 373-52 in Congress and 74-19 in the Senate, that bundle of legislation is now headed to the White House. [More]
Boehner: Congress Oh-So Close To Extending Lower Student Loan Interest Rates
By June 27, 2012
The clock is ticking on the June 30 deadline for Congress to agree on a way to extend subsidies for federal Stafford student loans that would keep the interest rates from doubling to 6.8%. Now Speaker of the House John Boehner has said lawmakers are tantalizingly close to coming to an accord on the matter. [More]
Show Us How Much You Owe On Your Student Loan
By June 8, 2012
On July 1, interest rates on federal Stafford student loans are set to double from 3.4% to 6.8%, and lots of lawmakers in Washington seem to agree that the rates need to remain low, they can’t come an agreement on how to pay for it, meaning millions of students could be caught in the crossfire — and millions more could be added to the spreading ocean of student debt. [More]
Effort To Keep Student Loan Interest Rates Low Gains Bipartisan Support
By April 24, 2012
Yesterday, presumed Republican candidate for President Mitt Romney mentioned his support for extending the current cap on interest rates for federal Stafford student loans, meaning that this is one issue both candidates appear to agree on. The question is, can something be done before those interest rates double in July? [More]
130,000 Students Petition Congress To Not Double Interest Rates On Stafford Loans
By March 13, 2012
While interest rates on federal Stafford loans have stepped down over the last several years from 6.8% in 2007 to 3.4% for the current school year, that number is set to bounce all the way back up to 6.8% on July 1, leading 130,000 students to deliver letters to lawmakers in protest. [More]
