Proposal would prevent looming increase on student-loan rate

05/30/2013 | Bank Credit News

A legislative proposal by Sen. Elizabeth Warren, D-Mass., is aimed at keeping student-loan rates from increasing to 6.8% on July 1, from 3.4%. If approved, the Bank on Students Loan Fairness Act, would delay the increase, pending a decision by Congress on a long-term solution for student debt. The proposal has received support from several higher-education institutions in Massachusetts as well as some national education groups.

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