It’s the Senate’s turn to save college students from a crippling interest rate hike

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Thom Hartmann A...
Thom Hartmann Administrator's picture

With the student loan interest rate set to double on July 1st – and outstanding student loan debt now over one trillion dollars – Democrats in the Senate will bring legislation to the floor to prevent rates from going up – and pay for it by closing a corporate tax loophole.  Unfortunately – Republicans are hell-bent on protecting that corporate tax loophole – and have pledged to filibuster the Senate bill.  

Instead – Republicans are pushing their own legislation that passed out of the House two weeks ago – which pays for student loan relief by cutting funding from preventative health programs in Obamacare.  President Obama has promised to veto the Republican bill – since it stops women and children from receiving the cancer screening and vaccinations they need to stay healthy. 

Once again – Republicans are doing whatever they can to protect their corporate overlords – no matter the damage they may cause to students, mothers, and children.