Skip to comments.Senate Republicans block vote on student loan interest rates
Posted on 05/08/2012 12:37:44 PM PDT by ColdOne
Senate Republicans Tuesday afternoon blocked the advancement of a Democratic bill to extend the current student loan interest rate over objections to how the measure will be funded.
Members voted 52 to 45 to block cloture on the bill, which would hold Stafford student loan interest rates for an estimated 7.4 million students at 3.4 percent instead of allowing them to double in July. The Democrats' $6 billion bill would be funded by closing a tax loophole, thereby raising Social Security and Medicare payroll taxes on select wealthy stockholders of private companieshence the Republican opposition.
(Excerpt) Read more at news.yahoo.com ...
We need to see a graph charting the number of years the typical loan takes to pay off with accumulated % rates. This is a gov. Trojan Horse keeping people in hock to the Federal Government for years.
They should let the interest rate increase.
Austerity is a bitch, but if we can’t even do this, we have no hope.
Since when are there 52 Republicans in the Senate?
Same thing I was wondering.
How did Lugar vote?
Not that I’d be impressed by a correct vote just now. What impresses me is consistent conservatism even in NON-election years ...
NAYs ---45 Alexander (R-TN) Ayotte (R-NH) Barrasso (R-WY) Blunt (R-MO) Boozman (R-AR) Brown (R-MA) Burr (R-NC) Chambliss (R-GA) Coats (R-IN) Coburn (R-OK) Cochran (R-MS) Collins (R-ME) Corker (R-TN) Cornyn (R-TX) Crapo (R-ID) DeMint (R-SC) Enzi (R-WY) Graham (R-SC) Grassley (R-IA) Hatch (R-UT) Heller (R-NV) Hoeven (R-ND) Hutchison (R-TX) Inhofe (R-OK) Isakson (R-GA) Johanns (R-NE) Johnson (R-WI) Kyl (R-AZ) Lee (R-UT) McCain (R-AZ) McConnell (R-KY) Moran (R-KS) Murkowski (R-AK) Paul (R-KY) Portman (R-OH) Reid (D-NV) Risch (R-ID) Roberts (R-KS) Rubio (R-FL) Sessions (R-AL) Shelby (R-AL) Thune (R-SD) Toomey (R-PA) Vitter (R-LA) Wicker (R-MS)
Present - 1 Snowe (R-ME)
Not Voting - 2 Kirk (R-IL) Lugar (R-IN)
OMG....they stopped The Messiah’s buying of the Yewt vote, when all those College Kids were borrowing because they have NO INTENTION of paying it back, since Taxpayers will be forced to pick up the tab. I can’t believe the Republicans FINALLY had the cohones to stop the spending, but, that’s ONLY because of the up-coming Nov. Elections, I’m sure.
Now its all about the GOP refusing to help students with their loans for the benefit of a few wealthy constituents.
Muck the Fedia. I hate em soooo much.
A silly question but one I never see addressed. Are the 7.4 million students at issue current/active students? In other words does this issue only affect people currently adding more debt or does it affect those who have finished their degrees and are repaying their loans as well?
I have friends who are paying back school loans that were “consolidated” and supposedly are now a fixed rate for the life of the loan. Am I correct in assuming they are not affected (yet) by this?
You are right - silly you. Asking for specifics on a bill coming out of Washington. Don’t you know that is why the bill has to be passed!