" Senate Democrats are trying to lower student loan interest rates a week after their inaction caused them to double, " ABC news reports.
The vote would return student loans to 3.4% instead of the now doubled 6.8% on some Stafford loans. While this inaction may not affect some students until they return to campus in the fall, this could amount to an average $2,600 for students this coming year.
Members of both parties seemed concerned over the issue and are attempting to find a bipartisan solution. One suggested proposal sought to link student loan interest rates to financial markets. This would mean that loans would lower in the next several years, but increase when the economy improves. However, as the debate stands it seems that there is no clear "winning idea."