Lawmakers unlikely to pass last-minute fix on student loans
Thu Jun 27, 2013 5:29pm EDT
(Reuters) - Lawmakers scrambled on Thursday to introduce last-minute bills to keep student loan interest rates from doubling on July 1, but even supporters doubted any measure would pass in time.
Only one legislative day remains before interest rates on millions of new federal student loans are due to double to 6.8 percent.
One bill by a group of Democratic senators would extend the lower rates for another year while lawmakers work on a longer-term solution.
"It would give us the time and the incentive and I hope the inspiration to look at this whole issue of financial debt and student debt in a comprehensive way, not just tinkering on the edges in terms of rates," said Democratic Senator Jack Reed of Rhode Island at a press conference.
More: http://www.reuters.com/article/2013/06/27/us-usa-studentloans-bills-idUSBRE95Q1FB20130627
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