Student loan fix

Posted:

Washington - The Senate has passed a bill that would make it less expensive for college students to borrow money this fall to pay for classes, housing and books. But interest rates could soon start climbing.

 

The proposal passed on Wednesday would link interest rates on federal student loans to the financial markets. That means student loans for the next few years would have lower interest rates. Higher rates would come in later years if the economy improves as expected.

 

Liberal Democrats opposed the White House-backed proposal as a bait-and-switch measure that would lure in new borrowers. Republicans supported the measure and helped the bill win passage. The bill is similar to one the House has already passed.

Current Conditions
/
  • Current Events

  • Current EventsMore>>

  • Coats for Kids Drive

    Coats for Kids Drive

    DECATUR, Ill. (WAND) - You can help keep central Illinois children warm this winter by donating new and gently used coats during WAND-TV's Coats for Kids drive.

    More \232a

    DECATUR, Ill. (WAND) - You can help keep central Illinois children warm this winter by donating new and gently used coats during WAND-TV's Coats for Kids drive.

    More \232a
  • Agribusiness Today

    Agribusiness Today

    Get your agribusiness report here!

    More \232a

    Get your agribusiness report here!

    More \232a
  • Web Exclusives

    Web Exclusives

    Here at WAND we strive to bring you the latest coverage on news happening across central Illinois, and this page is a continuation of that effort.More \232a
    Here at WAND we strive to bring you the latest coverage on news happening across central Illinois, and this page is a continuation of that effort.More \232a