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>> TOM HARKIN Latest News

JUN 06, 2013 - American Spectator

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Senate Fails Again, Student Loan Rates to Increase

Despite the looming July 1 deadline, which will up the interest rate on federal student loans from the current 3.4 percent to 6.8 percent, both Senate bills addressing student loans failed during today’s vote. The Democrats’ desired legislation failed to break a filibuster with 51-46 and the Republican version went down 40-57. The Democrats’ bill, sponsored by Sens. Jack Reed (D-R.I.) and Tom Harkin (D-Iowa), would have frozen the current interest rate of 3.4 percent on federal student loans for another two years. The GOP’s bill, sponsored by Sens. Tom Coburn (R-Okla.) and ... Read More

Tags: Senate Fails Again, Student Loan Rates to Increase,  Tom Harkin Latest News