Wednesday, December 13, 2006

Dems plan to cut rates on college loans

Democrats say they will use their new authority in the House and Senate to slash interest rates on need-based college loans in half — from 6.8 percent to 3.4 percent.

"That will be done almost immediately, certainly within the first couple of weeks of the new session," California Democratic Rep. George Miller, the incoming chairman of the House education committee, said in an interview.


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