​Student Loan Interest Rates Averted In Bill

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June 30, 2012

On Friday, Congress sent President Barak Obama a approximately $105-billion transportation bill; this measure averted the increasing of interest rates for college student loans as that was going to happen Sunday.

Student Loan Bill

“The American people finally will have a job’s bill from this Congress,” said Democrat Eleanor Holmes Norton, who is the Washington, D.C., delegate to the House.

There has not been a major transportation bill like this since 2005, it will continue the transit and highway spending at their current levels until the conclusion of 2014′s fiscal year. That spending includes an extension of a federal student-loan program and a fast-track rail and bus proposals in high-traffic areas.

In a demonstration of peaceful politics, the House approved the bill by a vote of 373-52 and if was approved by the Senate 74-19.

This bill will give the states which tighten down on distracted drivers, implant accredited licensing plans that regulate teenagers’ driving privileges, and require DUI offenders to have ignition interlock device’s financial incentives. In addition, due to the high-profile tour bus crashes in large numbers, it will institute new safety rules for interstate passenger buses.

“Do not give up hope,” said Sen. Barbara Boxer (D-Calif.), chairwoman of the Senate Environment and Public Works Committee. She said the bill’s passage was evidence “that we can work together.”