Sally Mae and the Student Loan Swindle Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Sally Mae and the Student Loan Swindle

SLM 26.61

-1.4%

3:59 PM EDT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Grandk	1/13/2007 1:09:54 PM
	of 63

Student loan bill unveiled The Associated Press Saturday, January 13 WASHINGTON (AP) — Following up on an election-year promise, House Democrats said yesterday they plan quick action to lower interest rates for student loans. Their proposal, scheduled for a vote next week, would cut interest rates on some student loans in half. However, the college tuition plan has been scaled back since it was first touted on the campaign trail last year. The interest rate relief would apply only to need-based loans and doesn't help people who take out unsubsidized student loans — a distinction not made in the campaign literature Democrats handed out before winning control of Congress last fall. The measure also abandons a pledge to reduce rates for parents who take out loans to help with their kids' college costs. The rate cut for subsidized student loans — from 6.8 to 3.4 percent — would be phased in over five years. The measure would cost just under $6 billion, according to the Congressional Budget Office. "This legislation will be a vital first step toward helping lower college costs for millions of low- and middle-income students, while keeping our promises to taxpayers to maintain responsible spending," said Rep. George Miller, D-Calif., chairman of the committee overseeing education. He introduced the bill and said the House would vote on it Wednesday.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next