thought this might be of your interest...

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PM2353
Posts: 85
Joined: Wed Jan 09, 2013 12:33 pm

Re: thought this might be of your interest...

Postby PM2353 » Thu May 23, 2013 11:42 am

http://blogs.marketwatch.com/election/2 ... loan-bill/

The article says they are voting on a bill today even though Obama assured congress that it will be vetoed. The bill is tying student loans to treasury bills. I believe they are adding 2.5% to the t bill to figure out what the interest rate will be.

PM2353
Posts: 85
Joined: Wed Jan 09, 2013 12:33 pm

Re: thought this might be of your interest...

Postby PM2353 » Thu May 23, 2013 1:44 pm

PM2353 wrote:http://blogs.marketwatch.com/election/2013/05/23/house-to-defy-veto-threat-vote-on-student-loan-bill/

The article says they are voting on a bill today even though Obama assured congress that it will be vetoed. The bill is tying student loans to treasury bills. I believe they are adding 2.5% to the t bill to figure out what the interest rate will be.



It got approved. http://m.washingtonpost.com/local/educa ... story.html

Cellar-door
Posts: 370
Joined: Thu Nov 01, 2012 4:33 pm

Re: thought this might be of your interest...

Postby Cellar-door » Fri May 24, 2013 4:51 pm

PM2353 wrote:
PM2353 wrote:http://blogs.marketwatch.com/election/2013/05/23/house-to-defy-veto-threat-vote-on-student-loan-bill/

The article says they are voting on a bill today even though Obama assured congress that it will be vetoed. The bill is tying student loans to treasury bills. I believe they are adding 2.5% to the t bill to figure out what the interest rate will be.


It got approved. http://m.washingtonpost.com/local/educa ... story.html


Pretty bad for law students, Grad loans starts at 7%, but will go up probably all the way to 10.5% pretty quickly according to the projections.
Luckily there is no way it makes it through the Senate or White house.

PM2353
Posts: 85
Joined: Wed Jan 09, 2013 12:33 pm

Re: thought this might be of your interest...

Postby PM2353 » Fri May 24, 2013 6:14 pm

Cellar-door wrote:
PM2353 wrote:
PM2353 wrote:http://blogs.marketwatch.com/election/2013/05/23/house-to-defy-veto-threat-vote-on-student-loan-bill/

The article says they are voting on a bill today even though Obama assured congress that it will be vetoed. The bill is tying student loans to treasury bills. I believe they are adding 2.5% to the t bill to figure out what the interest rate will be.


It got approved. http://m.washingtonpost.com/local/educa ... story.html


Pretty bad for law students, Grad loans starts at 7%, but will go up probably all the way to 10.5% pretty quickly according to the projections.
Luckily there is no way it makes it through the Senate or White house.



Yeah its ridiculous to pass this off as a bill to help students. I read quotes of proponents of the bill saying that it was just the starting point for discussion and that they expect to negotiate on some terms. Other its exactly what the Obama administration wanted and that rejecting it is just a political power play. When in reality Obama wants the interest amount to be fixed and he wants to expand IBR.

Im hoping this doesnt get through the senate, which you noted probably wont




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