Students watch, wait as Congress debates student loans
To save about $700 per semester on tuition, Adam Strozier dual enrolls at Milwaukee Area Technical College and the University of Wisconsin-Milwaukee.
Still, by the time he’s finished, the junior political science student will have racked up $23,000 in debt from federally subsidized student loans.
As Congress continues to struggle to reach a compromise on a stalemate that allowed the interest rate on the government-backed loans to double to 6.8%, students such as Strozier are left wondering how much more burdensome their debt loads are likely to become.
Last week, a Democratic proposal that sought to retroactively lower the interest rate on need-based loans to the previous mark of 3.4% failed in the Senate. On Thursday, it was reported that a bipartisan agreement was reached in the Senate similar to a bill passed earlier in the House, but that agreement later stumbled on a $22 billion price tag over the next 10 years.
Students watch, wait as Congress debates student loans Read More »