BREAKING: Senate Freezes Student Loan Rates

The U.S. Senate reached a deal to freeze federal subsidized student loan rates at 3.4 percent for another year, instead of doubling them to 6.8 percent. They still, however, have to decide how they will pay the $6 billion cost.

Senate Majority Leader Harry Reid told reporters: “We basically have the student loan issue worked out. The next question is, what do we put it on to make sure we can complete it?”

Reid proposed raising the premiums businesses pay for federal pension insurance. Republicans suggested shortening the period part-time students would be eligible for loans, reducing Medicaid or reducing Social Security overpayments.

Here are my proposals to the government, if I may:

  • Stop war for less than three days
  • Stop subsidizing corporations for less than one month
  • Stop subsidizing oil and gas companies for less than two months

Readers, got any more ideas?

AlterNet / By Alyssa Figueroa

Posted at June 26, 2012, 12:24pm

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