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US Government Cuts SL Interest Rate in Half!!!!

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    Posted: 17/January/2007 at 11:20am
If only the Canadian Government would do the same, so many problems would be solved for so many people!

WASHINGTON, Jan 17 (Reuters) - The new Democratic-led U.S. House of Representatives kept another campaign promise on Wednesday and voted to help financially strapped students cover the soaring cost of college.

The House set aside objections from President George W. Bush's administration as well as concerns by lenders and passed a bill to cut in half the interest rate on need-based federal student loans over five years to 3.4 percent.

"This legislation will be a vital first step toward helping lower college costs for millions of low- and middle-income students," said California Democratic Rep. George Miller. He is a chief sponsor of the measure that now goes to the closely divided Democratic-led Senate for an anticipated battle.


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Mark O'Meara

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Post Options Post Options   Thanks (0) Thanks(0)   Quote pogorelichfan Quote  Post ReplyReply Direct Link To This Post Posted: 24/February/2007 at 5:27am
Smile 
 
I have already written letters to all three federal political parties about this issue--as well as Gordon Campbell in BC.  My hope is that we can at least get a few points knocked off our student loan interest rate(s)...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote debtorprison Quote  Post ReplyReply Direct Link To This Post Posted: 20/April/2008 at 11:40am
At 3.4% i would save over 1200/year in interest payments alone (on just my Canada student loans)!
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