On Capitol Hill Thursday the Senate will vote on a bill by Senator Jack Reed that blocks a rate hike on student loans. What’s called “The Student Loan Affordability Act” would keep the interest rate on federal student loans from doubling for two years.
Reed said that’s how long it will take Congress to come up with a long-term solution.
Rhode Island’s two U.S. senators are weighing in on the IRS scandal. The agency charged with collecting taxes has been targeting conservative groups for special attention in their applications for tax-exempt status.
Staring down a July 1st deadline, lawmakers on Capitol Hill are looking at ways to control the costs of federal student loans. Senator Jack Reed is behind a measure that would overhaul how student loan interest rates are calculated.
Reed and a handful of democrats in Congress are pushing legislation that offers adjustable rates and caps the maximum interest rates on federal loans. The bill also allows borrowers stuck with high interest rates to refinance.