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Lawmakers Try to Save Student Loan Deal

Senators are struggling to hold together a bipartisan deal to keep student loan rates from doubling on July 1 as their colleagues trade political barbs with little more than a week to go before the deadline.

Student loans
Zephyr Picture, Getty Images

The Congressional Budget Office on Thursday said a bipartisan proposal that would link student loan interest rates to financial markets would save the government more than $8 billion over the next decade.

That sum is unlikely to win much support from Democrats, who say student loans should not make profits for the government.

Two Senate aides insist on anonymity to discuss the budget office report because it has not been released to the public yet and they aren’t authorized to discuss it publicly.

White House officials are meeting with lawmakers to push a deal.

 

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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