Senate leaders say they have student loan deal

(AP) - Senate leaders of both parties say they've reached a deal to prevent interest rates on millions of student loans from doubling beginning on Sunday. But House Speaker John Boehner has yet to decide

News 12 Staff

Jun 27, 2012, 1:00 AM

Updated 4,315 days ago

Share:

Senate leaders say they have student loan deal
(AP) - Senate leaders of both parties say they've reached a deal to prevent interest rates on millions of student loans from doubling beginning on Sunday. But House Speaker John Boehner has yet to decide whether the pact will be agreeable to the Republican-run House.
Senate Majority Leader Harry Reid of Nevada and Senate Republican leader Mitch McConnell of Kentucky told reporters Tuesday that they have worked out an agreement between themselves.
Boehner spokesman Michael Steel says the Ohio Republican will examine the pact.
Senate aides say the agreement would keep interest rates for subsidized Stafford loans at 3.4 percent for another year. The $6 billion cost would be financed by making it more expensive for companies to get federal insurance for their pensions and reducing federal subsidies for Stafford loans.


More from News 12
0:28
Man who set himself on fire outside Trump trial dies of injuries, police say

Man who set himself on fire outside Trump trial dies of injuries, police say

1:53
Rain, clouds followed by mild temps and clearer skies in Connecticut

Rain, clouds followed by mild temps and clearer skies in Connecticut

2:06
STORM Academy basketball coach recalls teen fatally shot in Bridgeport

STORM Academy basketball coach recalls teen fatally shot in Bridgeport

0:25
New Haven PD releases form to better serve individuals with disabilities during emergencies

New Haven PD releases form to better serve individuals with disabilities during emergencies

2:33
Nearly 100-year-old time capsule discovered by Norwalk demo crew

Nearly 100-year-old time capsule discovered by Norwalk demo crew

2:25
CT partnering with other states to regulate artificial intelligence

CT partnering with other states to regulate artificial intelligence

0:35
Tesla recalling nearly 4,000 Cybertrucks because accelerator pedal can get stuck

Tesla recalling nearly 4,000 Cybertrucks because accelerator pedal can get stuck

1:02
Broadway star takes over Fairfield SHU Community Theatre

Broadway star takes over Fairfield SHU Community Theatre

1:14
Early morning fire displaces 5 people in Bridgeport

Early morning fire displaces 5 people in Bridgeport

1:50
FBI on alert for potential threats in Connecticut amid Middle East tensions

FBI on alert for potential threats in Connecticut amid Middle East tensions

0:29
Police: Ansonia man arrested for inappropriate messages to 13-year-old boy

Police: Ansonia man arrested for inappropriate messages to 13-year-old boy

0:21
Officials probe suspicious death of Bridgeport man found in Massachusetts house

Officials probe suspicious death of Bridgeport man found in Massachusetts house

0:29
Thousands of dollars’ worth of jewelry stolen during smash-and-grab robbery at Trumbull Mall

Thousands of dollars’ worth of jewelry stolen during smash-and-grab robbery at Trumbull Mall

1:55
The Real Deal: How tipping trends have changed in the tri-state area

The Real Deal: How tipping trends have changed in the tri-state area

Guide: How to host Passover on a budget

Guide: How to host Passover on a budget

Is your mom awesome? Connecticut tell us why your Mom Rocks!

Is your mom awesome? Connecticut tell us why your Mom Rocks!

2:34
Bridgeport sexual assault survivor shares story during Sexual Assault Awareness Month

Bridgeport sexual assault survivor shares story during Sexual Assault Awareness Month

2:11
Milford business owner loses house and dog in fire; effort to help underway

Milford business owner loses house and dog in fire; effort to help underway

2:27
17-year-old dies from gunshot to head, becomes Bridgeport’s 4th homicide victim this year

17-year-old dies from gunshot to head, becomes Bridgeport’s 4th homicide victim this year

2:17
Renters push for ban on 'no cause' evictions, but CT lawmakers are wary

Renters push for ban on 'no cause' evictions, but CT lawmakers are wary