Relief for Student Borrowers?
On Jan. 17 the new House Democratic majority made good on its pledge to lower interest rates on student loans, successfully pushing through a plan to trim rates on need-based subsidized federal loans by 50% over a five-year period. The measure, approved 356-71, is called a step forward by students and groups seeking lower college costs. But lenders and industry analysts said the bill, which was opposed by the Bush Administration, could end up being not as good a deal for students as it appears.
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