Neither a Republican nor a Democratic bill to keep the interest rate on federally subsidized student loans at 3.4 percent could muster the 60 votes needed to overcome a filibuster in the Senate on Thursday, meaning that rates are still scheduled to double on July 1. The Republican proposal would have paid for the $6 billion extension by eliminating a preventive care fund in the health-care overhaul; it failed, 34-62. The Democratic proposal would have changed a tax provision that allows some small business owners to avoid paying payroll taxes; it failed to advance on a 51-43 vote.
- House panel votes on student loan interest rates, transparency study
- Senate Republicans block student loan reform legislation
- Student loan interest rates will double July 1
- Senators reach long-term deal on student loan interest rates
- Student loan interest rate proposals from House Republicans and some Senate Democrats
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