Student Loan Bill Moves Forward in House
The House Education and the Workforce Committee on Thursday approved the Smarter Solutions for Students Act (H.R. 1911). Introduced by John Kline (R-MN) and Virginia Foxx (R-NC), this bill would tie both subsidized and unsubsidized Stafford student loan rates to the 10-year Treasury note, plus 2.5 percent, and end the rate differentiation between the two types of loans. It would also tie PLUS loans for parents and graduate students to the 10-year Treasury note, plus 4.5 percent. (See the table below for what students and their families would pay under these proposals.)