Echoes a Plan Obama Offered in April The week after the GOP-led House passed a bill inspired by one of the president’s proposals to halt an upcoming hike in student loan interest rates, President Obama is holding an event at the White House … to “urge Congress to halt an upcoming hike in student loan interest rates.” Confused? Us too. You see, the House-passed Smarter Solutions for Students Act accomplishes several goals shared by both the president and Republicans. It stops student loan interest rates from doubling in July. It’s a market-based solution that gets politicians out of the business of setting interest rates. And it is a “long-term fix” for the student loan program that is fairer for students, borrowers, and taxpayers. Oh – and it’s “based on a proposal that Obama offered in his 2014 budget proposal.” See here: • “The Republican bill echoes a plan Obama offered in April to tie interest rates to the yield on the 10-year Treasury bill, rather than setting them via an act of Congress.” (Washington Post, 5/23/13) • “House Republicans are willing to give President Barack Obama a rare win … Rep. John Kline, R-Minn., told The Associated Press that his [...]
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