After two filibusters by Republicans, it seems that the Senate has finally come to an agreement
on freezing student loan rates. Senate Majority Leader Harry Reid
(D-NV) and Minority Leader Mitch McConnell (R-KY) are apparently working
out the final details on how they will cover the cost of the bill,
which will prevent student loans from doubling this month. Methods to
pay for it, according to the National Journal, “include Democratic
proposals involving pensions. The deal also includes a GOP proposal to
cut off subsidized student loans after six years, saving about $1.2
billion a year.”
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