U.S. House Of Representatives Chop Student Loan Interest Rates In Half
Posted on January 17th, 2007
It's nice to see politicians keep a promise. It's even nicer when it benefits college students so much. Thanks to the decision made today by the Democrat-heavy House of Representatives, Student Loan
(need-based) interest rates will decrease by half over the next five years.
The vote was passed against the protests of President Bush and other Republicans.
"This legislation will be a vital first step toward helping lower college costs for millions of low- and middle-income students," said California Democratic Rep. George Miller. He is a chief sponsor of the measure that now goes to the closely divided Democratic-led Senate for an anticipated battle.
Democrats promised to cut student loan interest rates as part of their campaign that helped them win control of the U.S. Congress from Bush's Republicans in November's elections.
Good news…maybe more like it will follow.
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