Senate bill would offer college students the same interest rates as banks

“Sen. Elizabeth Warren (D-MA) introduced a bill on Wednesday that would give college students the same interest rates on their federal student loans as banks do when borrowing from the Federal Reserve. ‘If the Federal Reserve can float trillions of dollars to large financial institutions at low interest rates to grow the economy, surely they can float the Department of Education the money to fund our students, keep us competitive, and grow our middle class,’ Warren said. The Student Loan Fairness Act would call for the Fed to ‘float the money’ to the department for one year, giving Congress enough time to enact a long-term agreement on student loan rates.”

http://www.rawstory.com/rs/2013/05/08/warrens-proposal-offer-college-students-the-same-interest-rates-as-banks/