WASHINGTON, D.C. | July 31, 2013 -
Right now the House is debating legislation to address the student loan interest rate problem by tying rates to the market. Speaking on the House floor moments ago, Education and the Workforce Committee Chairman John Kline (R-MN) reiterated the similarities between the House-passed Smarter Solutions for Students Act and the final legislation as amended by the Senate, renamed the Bipartisan Student Loan Certainty Act:
Much like the Smarter Solutions for Students Act approved by the House back in May, the Bipartisan Student Loan Certainty Act will tie student loan interest rates to the market, taking away the uncertainty that comes with allowing Congress to arbitrarily set rates. Similarly, both bills provide a permanent fix to the interest rate problem, granting students the certainty they need to make smart, fiscally responsible investments in their education. And most importantly, this legislation, like its predecessor, doesn’t unfairly penalize taxpayers.
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