Student Loan Interest Rates
Last week, the debate heated up over preventing the 3.4 percent interest rate on new federally subsidized student loans from doubling as scheduled on July 1st.
On April 24, 2012, Senator Reid (D-NV) introduced the Stop the Student Loan Interest Rate Hike of 2012 (S. 2343). The legislation extends the current 3.4 percent student loan interest rate for one year instead of allowing the rate to revert back to 6.8 percent. Senator Reid offsets the extension with a tax increase on small businesses. The CBO score can be found here.