8/12/2013

President Barack Obama signed a student-loan bill Friday that pegs the interest rates to the 10-year Treasury notes plus 2.05%, capping it at 8.25%. Some senators criticized the Bipartisan Student Loan Certainty Act, including Sen. Elizabeth Warren, D-Mass., who argued it would earn the government $184 billion over 10 years and the U.S. should not "profit off the backs of students."

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