BRUNSWICK — Democratic U.S. Senate candidate Shenna Bellows on Thursday prodded her Republican opponent, incumbent Republican Sen. Susan Collins, to sponsor a bill that would drastically reduce the interest rates on many outstanding student loans. Congress last year passed a bill to reduce the interest rate on federally backed student loans to 3.86 percent, down […]
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U.S. Senate reaches deal on student loan rates
WASHINGTON — A bipartisan compromise on student loans promises better deals for students and parents over the next few years but could spell higher rates if it gets more expensive for the government to borrow money as expected. The Senate deal shifts decisions on interest rates from the whims of Congress to the financial markets […]
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Posted inNation / World, sj-web
Student loan rates double without Congress’ action
WASHINGTON (AP) — College students taking out new loans for the fall term will see interest rates twice what they were in the spring — unless Congress fulfills its pledge to restore lower rates when it returns after the July 4 holiday. Subsidized Stafford loans, which account for roughly a quarter of all direct federal […]