After failure on student loans, lawmakers eye renewed negotiations to restore lower rates

  • Article by: PHILIP ELLIOTT , Associated Press
  • Updated: July 10, 2013 - 8:15 PM

WASHINGTON — The defeat of a student loan bill in the Senate on Wednesday clears the way for fresh negotiations to restore lower rates, but lawmakers are racing the clock before millions of students return to campus next month to find borrowing terms twice as high as when school let out.

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boris123Jul. 10, 1312:09 PM

Why shouldn't these loans be at market interest rates? Get the government out of making loans.

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SwiftBoatJul. 10, 1312:12 PM

I hope they take Econ 101 to find out why.

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Truckman182Jul. 10, 1312:12 PM

I paid 8.5 percent on the majority of my student loans in the early to mid 2000's. 6.8 ain't bad....

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drposterJul. 10, 1312:14 PM

Or on another note, maybe the Fed shouldn't have taken over the student loan industry, and banks could fight over new students.

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theagonybhoJul. 10, 1312:15 PM

Remember kids it was the Democrats wo made your loan rates go up and your health insurance increase.

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furguson11Jul. 10, 1312:24 PM

Who cares. They should be concerned about keeping public college costs affordable, not the interest rate on loans.

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cinemajayJul. 10, 1312:24 PM

Linking interest to the markets is a TERRIBLE idea. The whole point is to get educate and train workers, not make them unable to support themselves and pay it off afterwards. And to republicans, stop trying to monentize everything! Student loans aren't a profit-making scheme!

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mankato58Jul. 10, 1312:27 PM

It isn't the government's job to lend or subsidize higher education. Save some money, get a job, take advantage of the scholarships out there, and earn you way through. If the education is that worth it, it is worth earning.

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rlwr51Jul. 10, 1312:30 PM

Those who the Republicans answer to make their money on interest - or course they wouldn't pass it.

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tabasco628Jul. 10, 1312:35 PM

The GOP House plan would have tied the loan to a fixed percentage above the 10-year treasury note rate. A more than fair deal.

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