Our elected leaders in Congress failed to meet yet another deadline.
This time it had to do with the interest rate on new federally subsidized student loans.
The interest rate on those loans doubled, thanks to Congress being unable to reach an agreement.
But there’s good news for people preparing to enter school with a brand new student loan.
WHNT News 19 Political Analyst Jess Brown says, “I think Republicans in the House and Senate Democrats will feel sufficient pressures that they will start to reach some sort of compromise.”
Brown explains Republicans want to pin the crisis on Democrats, and Democrats want to stick it on Republicans and neither one wants to admit they’re both responsible.
It’s a familiar song and dance.
Brown says, “It’s just more partisan ying and yang. There was no reason for this to occur in the objective sense.”
So what about students, looking to enter college with a loan? What’s the answer from Congress?
Brown thinks, “They’ll band-aid, and each side will give a little and get a little, but the interest rate, I predict, on Stafford Loans will come down.”
A predictable end to a predictable fight in Congress.