TribLIVE

| USWorld


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Bipartisan loan bill still eludes Senate

Daily Photo Galleries

By The Associated Press
Thursday, June 20, 2013, 6:27 p.m.
 

WASHINGTON — A handful of senators struggled on Thursday to hold together a bipartisan deal to keep student loan rates from doubling on July 1 as their colleagues traded political barbs with little more than a week to go before the deadline.

Top White House officials, meanwhile, told lawmakers they are open to changes in President Obama's student loan proposal if a compromise could be reached that would win congressional approval.

The behind-the-scenes negotiations are an attempt to head off a rate hike that Congress' Joint Economic Committee estimated would cost the average student borrower $2,600 more. Both parties rushed to microphones to point fingers at the other for the potential hike but kept in touch with back-channel efforts that would prevent them from being blamed for adding to high college costs.

“There's no question there are discussions going on in the Senate right now, bipartisan discussions. Whether it bares fruit in the next 10 days is going to be a nail-biter,” said Rep. Joe Courtney, D-Conn.

The bipartisan deal, which would link undergraduate student loans' interest rates with the financial markets, would save the government more than $8 billion during the next 10 years, according to an unpublished Congressional Budget Office report.

Democratic and Republican Senate aides insisted on anonymity in discussing the budget office report because it has not been released to the public yet, and they are not authorized to discuss it publicly.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Nation

  1. Planet Mars likely had ocean, lost it, researchers find
  2. Feds weighed national standards but let North Dakota set regulations for oil trains’ safety
  3. WVU, Va. coal company at odds over research papers
  4. Reports: Actor Ford seriously injured in small-plane crash in L.A.
  5. Mother of 12-year-old shot dead by police criticizes Cleveland for faulting son, failing to apologize
  6. Foreign government gifts to family charity present candidacy hurdle for Hillary Clinton
  7. Natural gas royalties lawsuit hinges on transaction date
  8. Tribune-Review poll: Cable news rises as network news falls
  9. Idaho lawmakers object to Hindu prayer
  10. Physicians’ organization cites shortages of doctors will grow, mostly in senior care
  11. Dig uncovers ancient stone tool in eastern Oregon