STAFFORD
STUDENT LOANS:
How
Washington Turns Agreement into Deadlock
by Martin Payne
for the Conservatives & Cheryl McCarthy for the Liberals
Subsidized
college loans have been in the news lately. It seems Washington can’t figure
out a way to pass a bill to keep interest rates low which would make college a
little more affordable for millions of students. To say the least, this is
perplexing. Who doesn’t value education? But it turns out, the issue at hand
has absolutely nothing to do with education.
Let’s take it
point by point...
POINT
Federal
subsidies for Stafford student loans come up for renewal on July 1.
Conservatives and Liberals AGREE the 3.4% interest rate should be extended for another year (rather than
go back up to 6.8%), but...
STICKING
POINT
The two sides DISAGREE on how to pay for the $6 BILLION COST
of the program.
