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Senate defeats bills to keep student loan rates low

Posted By Adan On June 7, 2013 @ 8:43 am In Economic Crisis,Old Infowars Posts Style | Comments Disabled

John Burfisher
USA Today
June 7, 2013

The Senate on Thursday failed to pass two bills that would have blocked increases in federal student loan rates, which are set to double July 1.

The Democrats’ bill would have kept interest rates where they are for the next two years to give Congress more time to negotiate student loans. Total student loan debt in the U.S. is about $1 trillion.

“What we put forward today was a perfectly sensible solution to help address the problem,” said Sen. Patty Murray, D-Wash. According to Murray, the Democratic bill would have protected 7 million college students from rate increases. “It seems like a no-brainer to me, but apparently not to Republicans.”

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