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Fixing student loan rates isn't enough
After months of partisan haggling and finger-pointing, the Senate is scheduled to vote today on a bill that would keep interest rates on college student loans from doubling. Actually, the rate already has doubled — from 3.4 percent to 6.8 percent — because Congress missed a June 30 deadline to avoid an automatic increase in borrowing costs that was scheduled to kick in if lawmakers didn't act. Now senators and representatives are rushing to play catch-up before students report to campus, in hopes that they won't be blamed for yet another failure to act in the national interest.
July 24, 2013