AP News Menu

White House backs student loan compromise
Written by Associated Press   
Tuesday, 23 July 2013 15:06

WASHINGTON (AP) — The White House is urging Congress to pass a bipartisan compromise on student loans that would offer lower interest rates for the next few years.

The White House on Tuesday released a statement urging swift passage of the deal, negotiated over the last few weeks by Democratic Sen. Joe Manchin of West Virginia and Republican Sen. Richard Burr of North Carolina. Under the deal, interest rates would be linked to the financial markets.

Interest rates on subsidized Stafford loans doubled to 6.8 percent on July 1 because Congress did not act. Lawmakers say the rate is unacceptably high but they differ on how best to restore them.

Lawmakers this week are expected to consider the bipartisan fix, which would overhaul the entire federal student lending program.


Copyright 2013 The Associated Press.

 

Front Page Stories

Elmwood hires firm to design band room
04/15/2014 | MARIE THOMAS BAIRD Sentinel Education Editor
article thumbnail

File photo. Elmwood High School students fill the band room during practice. (Photo: J.D [ ... ]


Rossford to vote on ditching TARTA
04/15/2014 | DAVID DUPONT Sentinel Staff Writer
article thumbnail

ROSSFORD - Barring any intervening legal action, Rossford residents will get a chance  [ ... ]


Other Front Page Articles