Federal Relations

Student Loan Bill Approved by Congress

Last night, the House approved the Bipartisan Student Loan Certainty Act (HR 1911). This bill: Sets the annual interest rate on Direct Stafford loans and Direct Unsubsidized Stafford loans issued to undergraduate students at the rate on high-yield 10-year Treasury notes plus 2.05%, but caps that rate at 8.25%; Sets the annual interest rate on

House to take up Senate-passed Student Loan Deal Today

The House is expected to consider and vote on a bipartisan student loan deal that passed the Senate last week on an 81-18 vote. The deal ties interest rates to the rate on 10-year treasury bonds.  The bill is intended to be a long-term solution and also a retroactive fix to July 1st of this

Bipartisan Agreement Reached on Student Loan Rates

A bipartisan group of senators appear to have reached a deal that would provide a long-term fix to student loan rates, allowing them to increase up to a ceiling of 8.25 percent. Lawmakers on both sides of the aisle are supporting the compromise, which also would bring both subsidized and unsubsidized Stafford loans under the same

Things Heat Up in Congress

Congress returns to work this week under a heat advisory for our fist long stretch of very hot and humid weather in DC. Today is predicted to see 94 degrees in the nation’s capitol, but it will feel more like 101 according to weather.com. And today will likely be the coolest day of the week!

July Federal Update

FY14 APPROPRIATIONS The path to enacting FY14 appropriations measures is paved with legislative friction as Congress is showing no signs of undoing the sequester and the House and Senate chambers are working on vastly different overall budget numbers. At this point, there are three budgets — House, Senate, and White House — all of which

Student Loans: Cloture Vote Fails but Senate Makes Possible Deal

The Senate failed to invoke cloture and move forward S 1238, the Keep Student Loans Affordable Act, which is a measure that would keep the Stafford subsidized interest rate at 3.4 percent for another year. The vote was 51-49 and 60 votes are needed to invoke cloture, which would end debate on the measure. However, later

Senate to Try and Pass Student Loan Interest Bill (again)

Senator Majority Leader Harry Reid has scheduled a cloture vote on S. 1238, the Keep Student Loans Affordable Act, which is a measure that would keep the Stafford subsidized interest rate at 3.4 percent for another year. Over 43 Democratic Senators has sponsored the legislation including Senators Murray and Cantwell. The vote is a cloture

Senate Proposes Increase for NIH

Earlier today the Senate Labor, Health and Human Services, Education (L-HHS-ED) Appropriations Subcommittee approved by voice vote an FY14 bill that provides $164.33 billion in discretionary funding for programs under its jurisdiction, $7.8 billion higher than FY13 and above the budget caps established in the Budget Control Act.  No amendments were offered during the subcommittee

Congress Back to Work this Week

Congress returns today after a weeklong recess period to begin a four-week work schedule leading into the August recess. The next four weeks will focus largely on FY14 spending bills. But this week the Senate Democrats will certainly attempt to reverse an interest rate hike on federal student loans that kicked in July 1st and

Federally Subsidized Student Loan Rates Double Today

Congress adjourned last week for the 4th of July recess without passing legislation to halt the rise of student loan interest rates. That means that today the interest rate on Federally Subsidized student loans doubles from 3.4% to 6.8%. The rate hike is expected to affect 7 million students and will add an average of

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