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Discuss “House votes to cut student loan interest”

For Carnegie Mellon students taking on thousands of dollars in debt, relief might be just a few hundred feet away. The House of Representatives passed a bill cutting federal student loan interest rates in half on January 17. The bill is now making its way across the Capitol, awaiting approval by the Senate and President Bush. From there, a short trip down Pennsylvania Avenue, past President Bush’s desk, and graduates will get a little more breathing room each month.

However, Senate Democrats may introduce their own bill by February, The Wall Street Journal reported last Monday.

The House version, called H.R. 5: College Student Relief Act, would gradually lower interest rates from 6.8 to 3.4 percent by 2011. The change will only affect subsidized...

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