WASHINGTON -- As the days tick down until the rates on subsidized student loans will double to 6.8 percent on June 1, Senator Elizabeth Warren, a Massachusetts Democrat, proposed a bill that would set the interest rate for federally subsidized student loans at the same rate as the Federal Reserve's discount rate to banks -- currently 0.75 percent. The rate would be good for one year, to give Congress time to come up with a long-term fix. The loans would be funded by the Federal Reserve.
Congressional Republicans and President Obama have called for a market-based interest rate based on the government's cost to borrow, but the interest rate from those solutions would be a few percentage points higher than Warren's proposed 0.75 percent.
- CFPB report looks for solutions on private student loan debt
- Warren Calls for 'Citizen Co-Sponsors' on Loan Bill
- Faculty who teach online are invisible on campuses (essay)
- Berkeley agrees to do more to help disabled students do homework and research
- Florida Polytechnic U. to offer multi-year contracts, not tenure, to faculty
- Study questioning college-going for all is itself questioned
- Strayer Creates Completion Scholarship
- New protocols requiring verification of SEVIS status cause delays at ports of entry
Search for Jobs