2014-06-11T145125Z_1_LYNXMPEA5A0L3_RTROPTP_2_USA-OBAMA

U.S. student loan refinancing bill fails Senate hurdle

Obama speaks before he signs a presidential memorandum on reducing burden of student loan debt in White House in WashingtonBy Jeff Mason WASHINGTON (Reuters) – Legislation to allow student loan borrowers to refinance at lower interest rates failed to clear a procedural hurdle in the U.S. Senate on Wednesday, dooming a measure that was a Democratic priority ahead of November congressional elections. Democrats had said the bill would let holders of both federal and private undergraduate loans – some with rates of 9 percent or higher – to refinance at 3.86 percent. Young people made up a huge part of the coalition that helped elected President Barack Obama in 2008 and 2012. The Senate voted on Wednesday 56-38 to end debate on the measure and move to a final vote, short of the 60 votes required for it to move forward.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
Russian Lawyer Who Met With Trump Jr. Linked To Group Hired By Democrats https://t.co/pm9NaKceA2 #backfire #leftwing https://t.co/17lD1bMNPr - 5 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article