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VOL. 128 | NO. 143 | Wednesday, July 24, 2013

White House Backs Student Loan Compromise

AP

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WASHINGTON (AP) – The White House is urging Congress to pass a bipartisan compromise on student loans that would offer lower interest rates for the next few years.

The White House on Tuesday released a statement urging swift passage of the deal, negotiated over the last few weeks by Democratic Sen. Joe Manchin of West Virginia and Republican Sen. Richard Burr of North Carolina. Under the deal, interest rates would be linked to the financial markets.

Interest rates on subsidized Stafford loans doubled to 6.8 percent on July 1 because Congress did not act. Lawmakers say the rate is unacceptably high but they differ on how best to restore them.

Lawmakers this week are expected to consider the bipartisan fix, which would overhaul the entire federal student lending program.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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