Join our Facebook page by recommending us here!
Help spread the 1461 by Tweeting to your followers! Tweet
Student loans are scheduled to double on July 1st.
The doubling rate (reaching nearly 7%) will effectively make higher education that much more unattainable to middle & lower middle class students and families.
The bill would cost the American taxpayers $6 billion and would keep student loan interest rates at 3.4 percent for one more year.
The Democrats, who support the bill, proposed paying for the bill by raising Social Security and Medicare payroll taxes on high earning individuals.
Republicans agree that the interest rate needs to remain low and at or around the 3.4% mark but don't feel that this is the way to pay for the bill.
The final vote of 52 to 45 ran down the party lines as the Republicans said no.
Democrats must now find a new way to frame the next Student Loan bill that might be acceptable and stand a chance to move forward before July 1st or risk the American education system slipping further away from the grasp of the average student.
1461 would like to thank our current sponser - Cricket Wireless
Smartphone plans - $55/month
Join the conversation and post your thoughts in the comments!
Read the 1461 Comment Guidelines.
1461 is currently being read by over 225,000 and spreading! Help the 1461 spread - invite your friends and family to join the 1461 and learn the truth rather than BS!