July 20, 2024

August Policy Update: Student Loans and a Money Mess

August Recess Sees Student Loan Issue Resolved, FY14 Appropriations Mess Washington DC – This week Congress starts its annual August District Work Period, which means they won’t be back in town until September 9th.  With the current fiscal year ending September 30th, Congress is currently scheduled to be in session only 9 days in September.  Recognizing this, House and Senate leaders were trying to move as many of the 12 annual appropriations bills as possible.  However, the House was only able … [Read more...]

Student Loan Update

Senators Reach a Tentative Deal to Lower Interest Rates Low Today a bi-partisan group of Senators reached a deal that would lower the interest rates on college loans, change how the loan rate is determined, and introduce a cap on further increases. On July 1st the interest rate on subsidized Stafford loans doubled from 3.4% to 6.8%, months after unsubsidized Stafford loans had also risen to 6.8% (see our previous update to learn more about the different types of loans). The agreement, … [Read more...]