August 9, 2013
Obama to Sign Student Loan Interest Rate Bill
President Obama today will sign the bill reversing the student loan interest rate hike and lowering rates on new student loans this year. The compromise is retroactive to July 1, when the interest rate doubled for federally subsidized student loans. This compromise mirrors the proposal that Obama recommended in his budget request for the FY14 that called for market-based interest rates based on the 10-year Treasury note.