Dr. Boozman's Check-up
Jul 12 2013
We are continuing to work on a bipartisan solution to address the hike in student loan interest rates and I remain optimistic that we can resolve this problem. We cannot continue to kick the can down the road, which is what Majority Leader Harry Reid proposed, and the Senate rejected earlier this week. Americans currently trying to pay off student loans and those who will attend college in the future need a permanent solution. The commonsense proposal that we are working on would approach the issue with a market-based rate for all newly issued federal student loans based on the 10-year Treasury rate. These rates are locked in for the lifetime of the loan, but rates on new loans reset each year. This KUAR story details this bipartisan solution that I am working to get through the Senate.