Student loan legislation passed by Congress

07/02/2012 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)

Washington, D.C. – Congress has passed a new measure that will purportedly prevent a major increase in the interest rate on subsidized student loans. As reported by the Associated Press (AP), the passage of the bill on Friday is expected to save 2.8 million jobs prior to the looming interest rate increase and the expiration of highway and transit aid programs.

Sen. Barbara Boxer, D-Calif. is quoted by the AP as stating of the bill’s passage, “We have a bill that will boost this economy. We have a bill that is supported by conservatives and liberals, progressives and moderates. I think it’s a great day.”

Others were less supportive of the measure. Rep. Earl Blumenauer, D-Ore is further quoted as asserting, “At least it’s not as bad as our Republican colleagues wanted… But make no mistake, it is not a bill to be proud of.”

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