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Senator Elizabeth Warren Wants Student Loans To Get Fed Discount Rate

Thursday, May 9, 2013 - 5:51 AM
It might seem fair to allow students to borrow at the same rates that the big banks borrow. But it’s another thing that may put further downward pressure on interest rates for savers. From the LA Times:
Students taking out government loans to help pay for college should pay the same rock-bottom interest rate that the Federal Reserve charges big banks, Sen. Elizabeth Warren (D-Mass.) proposed Wednesday.

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Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708
1. Thursday, May 9, 2013 - 7:42 AM
Fair is fair; I agree with Sen. Warren on this proposal wholeheartedly.
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
2. Thursday, May 23, 2013 - 2:45 PM
From Consumerist:
While Senator Elizabeth Warren pushes for legislation that would allow student borrowers to enjoy the same insanely low interest rates as big banks (for one year at least), the House of Representatives today passed a bill that would link the interest rates on federal student loans to the yield on the 10-year Treasury note.

Once again, lawmakers are facing a June 30 deadline to figure out how to keep rates on federally subsidized Stafford loans from doubling from 3.4% to 6.8%. The House bill is one proposed long-term solution that proponents say would prevent future 11th-hour short-term fixes.

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pearlbrownpearlbrown1,491 posts since
Nov 2, 2010
Rep Points: 6,486