Sentences with phrase «tied federal student loan interest rates»
Legislation passed by Congress and signed by President Obama last year tied federal student loan interest rates to financial markets, which had the effect of lowering rates for the school year starting in 2013.
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Interest rates on federal student loans are currently tied to the 10 - year Treasury Note, with an additional set percentage added on.
In line with his Republican party, House Representative Michael Burgess voted for tying interest rates to the private market in 2013 after he voted against the federal student loan takeover in 2009.
He voted in favor of the Bipartisan Student Loan Certainty Act in an effort to keep interest rates from rising, but he does not fully support tying federal rates to the market.
In 2013, the government enacted a student loan bill that tied federal loan interest rates to the 10 year Treasury note, and as Chopra explains in his post, a bond auction next month will determine the interest rates for federal student loans.