Deal reached in Senate to extend student loan interest rate

[maddezmom]

Source: ABC

Republican and Democratic leaders in the Senate say they have reached a deal to continue subsidizing student loans with an interest rate of 3.4 percent instead of allowing it to return to the normal rate of 6.8 percent.

The extension cost about $6 billion over the next year, but it saves costs for students who take government-subsidized loans.

The Washington Post has the details:

The extension would be paid for by raising premiums for federal pension insurance, an idea acceptable to businesses because rules will also be changed on how companies calculate their pension liabilities. The pension proposal came from Reid.


Read more: http://abcnews.go.com/Politics/OTUS/deal-reached-senate-extend-student-loan-interest-rate/story?id=16655615

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WaPo:

Student loan rate deal reached, Senate leaders say

By Rosalind S. Helderman


Top leaders in the Senate say they have reached a deal on freezing student loan rates for another year, though they are still deciding the mechanics for how the proposal should make its way through the Congress in the final busy days before lawmakers leave Washington for a week-long July 4 holiday.


http://www.washingtonpost.com/blogs/2chambers/post/student-loan-rate-deal-reached-senate-leaders-say/2012/06/26/gJQAQBPv4V_blog.html

[rocktivity]

1. CUE THE VONAGE THEME!

rocktivity

[Lionessa]

2. Okay there's a catch in here somewhere, it doesn't add up.

How is it that raising premiums, whose actual to the government increases are going to be offset by changing the rules going to pay for anything? Sounds like the net will be finagled into = 0.

[Warren Stupidity]

6. Of course there is.

rules will also be changed on how companies calculate their pension liabilities.

I'll translate. Companies will be allowed to underfund their pension plans even more than they already do. We get stuck with the bill when they go bust.

[Iliyah]

3. The house will stall this bill

along wit the other bills cause they want America to FAIL. They will attached crazy amendment shit to the bills and then blame Pres O because its always his fault and the gopper base will believe them.

[julian09]

4. What about the House of Representatives,

are they on board?

[Evasporque]

8. tea party go overboard...

loading it with pet tax cuts and spending cuts....and some other RW ridiculousness..

[Fearless]

5. Really about time.

[libodem]

7. Effing good!

Wee Haw!!! Woo Hoo!!

[Kteachums]

9. Stop the foolish games while parents and children are worrying about means!

I have four children. Three of them are finished college but, I still have one that is in the middle of this mess. In February I was diagnosed with breast cancer. My health bills after insurance are unreal. The only way my daughter can go to school is student loans. They do not realize the fear that students and parents are having as a result of them playing with legislation. I listen to how much is being spent on elections. I am a public school teacher (exemplary according to state standards). They wonder what is wrong with education. Why can't we act like the greatest country on earth and make sure that all American children can go to college? They "talk the talk" but, can't "walk the walk". I'm sick of the statistics that show people not trusting public education. Do something about this! I always hear teachers should be paid more but, everytime we get a chance to get paid more it is struck down in state legislature. I'm sick of hearing the story about how the unions protect poor educators. The unions are the only ones who stand up for teachers. If they are done away with our pay will be even less. Lawmakers don't think twice about giving themselves a raise. They want to constantly check my qualifications and test me. Let's check the qualifications of the people who are making these laws. These "goof offs" in Washington could care less about the children of America. They are just looking for the next almighty hand out. Put some of that corporate money where it belongs toward the education of the students of tomorrow! Quit playing games with my child! Some one out there be real!