» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 143 | Wednesday, July 24, 2013

White House Backs Student Loan Compromise

AP

Print | Front Page | Email this story | Comments ()

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 This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 369 15,321
MORTGAGES 115 515 19,435
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 182 873 33,089
BANKRUPTCIES 54 282 11,428
BUSINESS LICENSES 22 125 4,936
UTILITY CONNECTIONS 0 227 18,457
MARRIAGE LICENSES 22 138 4,124

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.