- Speaker of the House John Boehner said Thursday that the Senate's proposed student loan deal is similar to Republican legislation passed in the House last month, signaling that a final deal on interest rates may be near.
- The Senate's compromise would have rates rise or fall with the market, but differs from the House and White House plans in that it allows students to lock in rates when they take out the loans and places a cap on the maximum rate.
- The House passed its version of the bill prior to the July 1 rate doubling, but Senate Democrats have been divided on the issue and failed to pass a proposal that would have frozen lower rates for another year.
From the article:
... “I haven’t seen the details of it, but clearly, it follows the structure of the House bill,” Boehner said at a Capitol press conference. “It’s a market-based reform with market-based rates, similar to what the president called for and what the House has already passed. So when we see the details, I’m hopeful that we’ll be able to put this issue behind us.” ...