advertisement

McCaskill meets MU students today about cutting interest on loans

Thursday, May 30, 2013 | 8:24 a.m. CDT; updated 4:14 p.m. CDT, Thursday, May 30, 2013

COLUMBIA — U.S. Sen. Claire McCaskill is promoting a plan to cut interest rates on federally subsidized student loans.

The Democratic senator planned to meet today with MU students in Columbia about the proposed Bank on Student Loans Fairness Act. The bill seeks to reduce the current interest rate of 3.4 percent on subsidized Stafford loans to 0.75 percent for one year.

McCaskill and her co-sponsor, Democratic Sen. Elizabeth Warren of Massachusetts, say the lower rate is on par with a discounted, short-term rate offered to banks by the Federal Reserve.

The U.S. House voted last week in favor of variable student loan interest rates to avoid an automatic increase to 6.8 percent on July 1.


Like what you see here? Become a member.


Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Comments

Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.

advertisements