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...
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...
The two sides DISAGREE on how to pay for the $6 BILLION COST
of the program.