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Aah, You Don't Need College Anyway
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Got a kid going to college this Fall? Looking to finance it with Stafford student loans? The interest rate is doubling because the Senate couldn't agree on a solution before the increase was triggered, and they've gone on vacation. What's weird is that the President is closer to the Republican position on this, wanting to tie the rate to the market, but his own party is against that, wanting Congress to set the rate itself. So the Senate will try again after the holiday, setting a July 10th vote on a stop-gap one year extension, but that's not guaranteed. And, in the meantime, if you're arranging loans for tuition, you might not want to apply until they fix this. (Fox News)
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