Senate to vote on federal student loan interest rate plan
WASHINGTON – The U.S. Senate is expected to vote today on a proposal to roll back the student loan interest rate that increased from 3.4 percent to 6.8 percent on July 1 because Congress didn’t pass a plan to prevent it.
Sen. John Hoeven, R-N.D., said the proposal likely won’t get enough votes to pass from senators who are weary of again postponing a final decision for another year. Last summer, the Senate approved a one-year extension on the lower rate.
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