Hey there, I’m not in charge of blogging things like this, and ideally Holly will grace this post with her infinite politics + college wisdom.
The point is, the House just voted to decrease the interest rate on certain student loans. Here is some italicized text from MsMagazine.com, because my mom told me about this so I google newsed it:
The US House of Representatives voted yesterday to reduce interest rates for student borrowers. The College Student Relief Act of 2007 passed yesterday in a vote of 356 to 71. All of the Democrats and 124 Republicans voted in favor of the bill, which will apply to the 5.5 million Stafford loans given to students whose families earn between $26,000 and $68,000 per year. The bill establishes gradual reductions in the interest rate over a five-year period, bringing the rate down from 6.8 percent to 3.4 percent. The US Public Interest Research Group estimates that, under the new act, the average student would save about $2,300 in interest payments on a 15-year loan.