Senators Discuss Student Loan Interest Rates

By: AP Email
By: AP Email

WASHINGTON (AP) - A bipartisan group of senators is meeting at the White House for the latest in so-far-unproductive talks to lower interest rates on student loans.

Democratic Sens. Dick Durbin of Illinois and Joe Manchin of West Virginia are part of Tuesday evening's meeting. Independent Sen. Angus King of Maine, who caucuses with the Democrats, also joined the session.

Sens. Lamar Alexander of Tennessee, Richard Burr of North Carolina and Tom Coburn of Oklahoma represented the Republicans.

Interest rates on new subsidized Stafford student loans doubled to 6.8 percent on July 1 because Congress didn't avert the hike.

Lawmakers are now trying to find a compromise that would restore lower rates without adding to the nation's deficit.

No deal is expected to be announced Tuesday evening.


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