Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
October 8, 2015

Warren’s First Bill Targets Student Loan Rate Hike

It should come as no surprise that Sen. Elizabeth Warren’s first bill deals with consumer finance.

This time, the Massachusetts Democrat is pushing legislation to prevent a scheduled jump in the interest rate on federal student loans that’s due to take effect on July 1. Without action, the interest rate would double from 3.4 percent to 6.8 percent.

“The student debt problem in this country is a quiet, but growing problem. Today’s graduates carry more than $1 trillion in debt, more than all the outstanding credit card debt in the whole country,” Warren said Wednesday morning on the Senate floor.

Warren said her legislation would “give students the same deal we give to big banks,” by directing the Federal Reserve to provide money to the Education Department to loan out money for federal student loans at the same rate as banks can borrow money through the Federal Reserve’s discount window.

The House and Senate reached an agreement to extend the lower rates in advance of the election-year August recess, but now the date is approaching to pay the piper. House Majority Leader Eric Cantor, R-Va., said in a May 3 memo that Rep. John Kline, R-Minn., would move forward with a market-based alternative in that chamber.

“Chairman Kline and the Education and Workforce Committee will produce a bill to replace the legislatively fixed interest rate with an interest rate tied to market rates for federal borrowing. In the near-term this is expected to provide an interest rate lower than the 6.8% fixed in law and over the long-term provide savings for taxpayers,” Cantor wrote. “This bill takes congress and politics out of setting interest rates and provides a long-term fix to the interest rate cliffs initiated in 2007.”

Senate Republicans have a similar proposal.

Before arriving in the Senate, Warren spearheaded the development of the Consumer Financial Protection Bureau, a new regulatory body that’s been panned by many in the banking industry. In addition, Senate Republicans have opposed confirming anyone to helm to the bureau until organizational changes are made.

That’s led to a standoff over President Barack Obama’s recess appointment of Richard Cordray as CFPB director.


Comments (88)

Leave a Comment

Your email address will not be published.

author email

  1. Frank_Sturgis

    May 8, 2013
    10:50 p.m.

    Does this only affect new loans, or does it lower existing loan rates as well? If it’s only new loans, it does nothing to help the people carrying the over $1 trillion in loan debt Warren claims to care about.

  2. ID-2

    May 9, 2013
    12:07 a.m.

    Congress once again jumping from one crisis to the next.

  3. Anonymous

    July 4, 2015
    2:57 p.m.

    I like the efforts you have put in this, thanks for all the great blog posts.

  4. Anonymous

    July 7, 2015
    8:18 a.m.

    Its fantastic as your other articles : D, appreciate it for putting up. “As experience widens, one begins to see how much upon a level all human things are.” by Joseph Farrell.

  5. Anonymous

    July 7, 2015
    11:26 p.m.

    I¦ve been exploring for a bit for any high quality articles or blog posts in this kind of space . Exploring in Yahoo I ultimately stumbled upon this site. Studying this info So i¦m happy to convey that I’ve an incredibly just right uncanny feeling I found out exactly what I needed. I most for sure will make certain to don¦t omit this website and provides it a look regularly.

  6. Anonymous

    July 9, 2015
    9:21 a.m.

    Greetings from Idaho! I’m bored to death at work so I decided to browse your website on my iphone during lunch break. I love the knowledge you present here and can’t wait to take a look when I get home. I’m surprised at how fast your blog loaded on my phone .. I’m not even using WIFI, just 3G .. Anyhow, wonderful blog!

  7. Anonymous

    July 11, 2015
    10:14 a.m.

    I really wanted to write a quick word to appreciate you for these superb tactics you are posting on this website. My incredibly long internet research has at the end been rewarded with reasonable suggestions to write about with my friends and family. I ‘d assume that most of us website visitors are definitely lucky to be in a useful place with many perfect professionals with valuable plans. I feel very blessed to have discovered your webpages and look forward to really more cool minutes reading here. Thanks once more for a lot of things.

  8. Anonymous

    July 13, 2015
    1:57 p.m.

    An interesting discussion is price comment. I feel that you must write extra on this topic, it might not be a taboo topic however usually people are not sufficient to speak on such topics. To the next. Cheers

  9. Anonymous

    July 13, 2015
    3:05 p.m.

    Enjoyed studying this, very good stuff, thanks. “It is in justice that the ordering of society is centered.” by Aristotle.

  10. Anonymous

    July 13, 2015
    5:51 p.m.

    I have read some good stuff here. Definitely worth bookmarking for revisiting. I wonder how much effort you put to create such a magnificent informative site.

  11. Anonymous

    July 13, 2015
    6:50 p.m.

    Thanks for the sensible critique. Me and my neighbor were just preparing to do a little research about this. We got a grab a book from our local library but I think I learned more from this post. I am very glad to see such wonderful info being shared freely out there.

  12. Anonymous

    July 13, 2015
    8:01 p.m.

    Hey! This post could not be written any better! Reading this post reminds me of my old room mate! He always kept chatting about this. I will forward this article to him. Fairly certain he will have a good read. Thanks for sharing!

  13. Anonymous

    July 13, 2015
    11:49 p.m.

    I am often to blogging and i really appreciate your content. The article has really peaks my interest. I am going to bookmark your site and keep checking for new information.

  14. Anonymous

    July 14, 2015
    1:05 a.m.

    hello!,I really like your writing very so much! percentage we keep up a correspondence extra about your post on AOL? I need a specialist on this space to unravel my problem. May be that’s you! Having a look ahead to look you.

  15. Anonymous

    July 17, 2015
    7:41 a.m.

    This blog is definitely rather handy since I’m at the moment creating an internet floral website – although I am only starting out therefore it’s really fairly small, nothing like this site. Can link to a few of the posts here as they are quite. Thanks much. Zoey Olsen

  16. Anonymous

    July 17, 2015
    9:06 a.m.

    I’m curious to find out what blog system you happen to be using? I’m experiencing some minor security problems with my latest site and I’d like to find something more secure. Do you have any solutions?

  17. Anonymous

    July 18, 2015
    6:01 a.m.

    Nice blog here! Also your website loads up very fast! What host are you using? Can I get your affiliate link to your host? I wish my site loaded up as fast as yours lol

  18. Anonymous

    July 20, 2015
    2:50 p.m.

    Very interesting details you have remarked, thankyou for posting. “My work is a game, a very serious game.” by M. C. Escher.

  19. Anonymous

    July 20, 2015
    8:45 p.m.

    Great post. I am facing a couple of these problems.

  20. Anonymous

    July 21, 2015
    1:02 a.m.

    Wow, wonderful weblog structure! How lengthy have you been running a blog for? you made running a blog look easy. The overall glance of your site is great, as neatly as the content!

  21. Anonymous

    July 24, 2015
    5:19 a.m.

    Hello, I think your site might be having browser compatibility issues. When I look at your blog site in Opera, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, very good blog!

  22. Anonymous

    July 24, 2015
    5:52 a.m.

    Great V I should certainly pronounce, impressed with your web site. I had no trouble navigating through all tabs as well as related info ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your client to communicate. Nice task..

  23. Anonymous

    July 24, 2015
    5:38 p.m.

    Hi are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and create my own. Do you require any html coding expertise to make your own blog? Any help would be really appreciated!

  24. Anonymous

    July 25, 2015
    8:21 a.m.

    I enjoy studying and I think this website got some really utilitarian stuff on it! .

  25. Anonymous

    July 25, 2015
    9:17 a.m.

    I’m still learning from you, as I’m improving myself. I definitely liked reading all that is posted on your blog.Keep the stories coming. I enjoyed it!

  26. Anonymous

    July 25, 2015
    5:09 p.m.

    Great post, I conceive website owners should acquire a lot from this site its real user genial.

  27. Anonymous

    July 25, 2015
    5:39 p.m.

    An fascinating dialogue is price comment. I think that you need to write extra on this subject, it may not be a taboo topic but typically people are not enough to speak on such topics. To the next. Cheers

  28. Anonymous

    July 28, 2015
    2:25 p.m.

    I love it when people come together and share opinions, great blog, keep it up.

  29. Anonymous

    July 30, 2015
    8:41 p.m.

    I was suggested this web site by my cousin. I am not sure whether this post is written by him as nobody else know such detailed about my trouble. You’re amazing! Thanks!

  30. Anonymous

    July 31, 2015
    1:28 p.m.

    Hiya very nice site!! Guy .. Beautiful .. Superb .. I will bookmark your site and take the feeds alsoKI am happy to search out numerous helpful information here within the post, we need develop more techniques on this regard, thanks for sharing. . . . . .

  31. Anonymous

    July 31, 2015
    4:18 p.m.

    There’s noticeably a bundle to find out about this. I assume you made sure good factors in options also.

  32. Anonymous

    Aug. 3, 2015
    9:58 a.m.

    Pretty nice post. I just stumbled upon your blog and wished to say that I’ve truly enjoyed browsing your blog posts. After all I will be subscribing to your rss feed and I hope you write again very soon!

  33. Anonymous

    Aug. 4, 2015
    6:46 p.m.

    Some genuinely interesting info , well written and broadly speaking user pleasant.

  34. Anonymous

    Aug. 6, 2015
    9:30 a.m.

    Great – I should definitely pronounce, impressed with your website. I had no trouble navigating through all the tabs as well as related information ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or something, site theme . a tones way for your customer to communicate. Nice task..

  35. Anonymous

    Aug. 6, 2015
    10:48 a.m.

    Whats Taking place i’m new to this, I stumbled upon this I’ve discovered It positively helpful and it has aided me out loads. I hope to contribute & aid other users like its helped me. Great job.

  36. Anonymous

    Aug. 7, 2015
    1:38 p.m.

    We are a gaggle of volunteers and opening a brand new scheme in our community. Your web site provided us with valuable info to work on. You’ve done a formidable job and our whole neighborhood might be grateful to you.

  37. Anonymous

    Aug. 9, 2015
    10:49 p.m.

    hey there and thank you for your info – I have definitely picked up anything new from right here. I did however expertise several technical issues using this web site, as I experienced to reload the website a lot of times previous to I could get it to load correctly. I had been wondering if your web host is OK? Not that I’m complaining, but slow loading instances times will sometimes affect your placement in google and could damage your quality score if advertising and marketing with Adwords. Well I am adding this RSS to my e-mail and could look out for a lot more of your respective exciting content. Ensure that you update this again soon..

  38. Anonymous

    Aug. 10, 2015
    2:18 a.m.

    Amazing! This blog looks exactly like my old one! It’s on a entirely different subject but it has pretty much the same page layout and design. Superb choice of colors!

  39. Anonymous

    Aug. 10, 2015
    12:13 p.m.

    Aw, this was a really nice post. In thought I would like to put in writing like this additionally – taking time and precise effort to make a very good article… however what can I say… I procrastinate alot and on no account seem to get something done.

  40. Anonymous

    Aug. 11, 2015
    12:03 p.m.

    Simply wanna tell that this is invaluable, Thanks for taking your time to write this.

  41. Anonymous

    Aug. 12, 2015
    1:26 p.m.

    I have been surfing online more than three hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my opinion, if all webmasters and bloggers made good content as you did, the internet will be much more useful than ever before.

  42. Anonymous

    Aug. 12, 2015
    2:44 p.m.

    Incredible! This blog looks exactly like my old one! It’s on a completely different subject but it has pretty much the same layout and design. Wonderful choice of colors!

  43. Badan

    Aug. 16, 2015
    9:27 a.m. The Language of Desire by Felicity Keith is 2014’s best dirty talk program that also gives women a complete education and understanding of the sexual psychology of men. Released under the umbrella of Michael…

  44. Anonymous

    Aug. 19, 2015
    8:10 a.m.

    Hi there, i read your blog from time to time and i own a similar one and i was just wondering if you get a lot of spam responses? If so how do you prevent it, any plugin or anything you can suggest? I get so much lately it’s driving me crazy so any assistance is very much appreciated.

  45. Anonymous

    Aug. 19, 2015
    9:15 a.m.

    Great line up. We will be linking to this great article on our site. Keep up the good writing.

  46. Anonymous

    Aug. 23, 2015
    5:44 p.m.

    Really Appreciate this post, is there any way I can get an email every time you write a new post?

  47. Anonymous

    Aug. 23, 2015
    11:46 p.m.

    I saw a lot of website but I believe this one contains something extra in it in it

  48. Anonymous

    Aug. 24, 2015
    5:23 a.m.

    My spouse and i got very thankful that Chris could finish up his investigations using the ideas he discovered from your very own weblog. It is now and again perplexing just to choose to be giving freely techniques which often most people might have been trying to sell. And we see we need the website owner to thank for this. The explanations you’ve made, the simple site menu, the relationships you help to instill – it’s got everything extraordinary, and it’s letting our son in addition to our family imagine that that subject matter is awesome, which is certainly incredibly fundamental. Thanks for the whole lot!

  49. Anonymous

    Aug. 25, 2015
    7:22 a.m.

    Right now it looks like Drupal is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?

  50. Anonymous

    Aug. 25, 2015
    3:52 p.m.

    I don’t even know how I ended up right here, however I believed this publish used to be good. I don’t know who you’re however certainly you are going to a famous blogger in case you are not already ;) Cheers!

  51. Anonymous

    Aug. 25, 2015
    8:15 p.m.

    There is obviously a bunch to know about this. I suppose you made certain nice points in features also.

  52. Anonymous

    Aug. 26, 2015
    11:02 a.m.

    Whats up very nice site!! Man .. Excellent .. Amazing .. I will bookmark your site and take the feeds additionally…I’m glad to seek out a lot of helpful information here within the submit, we’d like work out extra strategies on this regard, thanks for sharing.

  53. Anonymous

    Aug. 29, 2015
    5:23 p.m.

    Whoa! This blog looks just like my old one! It’s on a completely different subject but it has pretty much the same page layout and design. Excellent choice of colors!

  54. Anonymous

    Sept. 1, 2015
    9:12 p.m.

    Respect to website author, some great information .

  55. Anonymous

    Sept. 1, 2015
    11:04 p.m.

    What i don’t understood is in truth how you are now not really much more neatly-favored than you might be now. You’re very intelligent. You realize therefore considerably when it comes to this topic, produced me personally consider it from so many numerous angles. Its like women and men aren’t interested unless it is one thing to do with Girl gaga! Your own stuffs excellent. All the time take care of it up!

  56. Anonymous

    Sept. 2, 2015
    1:34 p.m.

    Very nice design and style and excellent subject material, absolutely nothing else we need : D.

  57. Badan

    Sept. 4, 2015
    9:59 a.m.

    USING YOUR VOICE TO TURN HER ON. Maybe you’re already in a long-term relationship or maybe you first got her digits at the bar last night. Either way, today’s discussion about using your voice to turn her on will help you. Depending on your specific situation, the technical application might differ, but there are a few time-tested tricks you can use to influence her thinking and how she responds to you. If you’re looking to turn a woman on with your voice alone, there are a number of techniques you can employ to make that happen. Please visit

  58. Anonymous

    Sept. 7, 2015
    6:14 p.m.

    Some really interesting info , well written and loosely user genial.

  59. Anonymous

    Sept. 7, 2015
    11:31 p.m.

    I have not checked in here for a while because I thought it was getting boring, but the last several posts are good quality so I guess I will add you back to my daily bloglist. You deserve it my friend :)

  60. Anonymous

    Sept. 8, 2015
    9:24 a.m.

    I do believe all the ideas you’ve offered on your post. They’re really convincing and will definitely work. Still, the posts are very brief for starters. May just you please lengthen them a bit from subsequent time? Thanks for the post.

  61. Anonymous

    Sept. 12, 2015
    8:44 p.m.

    I¦ve recently started a website, the information you provide on this web site has helped me tremendously. Thank you for all of your time & work.

  62. Anonymous

    Sept. 13, 2015
    2:23 a.m.

    Hey there, I think your site might be having browser compatibility issues. When I look at your blog in Ie, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, amazing blog!

  63. Anonymous

    Sept. 17, 2015
    11:15 a.m.

  64. Anonymous

    Sept. 17, 2015
    3:29 p.m.

    Respect to website author, some fantastic selective information.

  65. Anonymous

    Sept. 17, 2015
    7:24 p.m.

    Great web site. A lot of useful info here. I am sending it to some buddies ans additionally sharing in delicious. And certainly, thanks to your sweat!

  66. federated

    Sept. 19, 2015
    6:49 p.m.

    Thanks for detailed review.. Waiting for future notes

  67. esurance car quote

    Sept. 20, 2015
    9:58 a.m.

    We offer you huge discounts, just enter your zip code and save up to 40 percent on auto and home insurance policies. Its easy and fast to do by 5 digit zip code.

  68. esurance car insurance quotes

    Sept. 20, 2015
    10:26 a.m.

    We offer you huge discounts, just enter your zip code and save up to 40 percent on auto and home insurance policies. Its easy and fast to do by 5 digit zip code.

  69. state farm car insurance quotes save

    Sept. 20, 2015
    3:23 p.m.

    Use our free quotes to get discounts on auto or home insurance. Get quotes by zip code and save up to 505 annually.

  70. Anonymous

    Sept. 21, 2015
    4:39 a.m.

    I believe you have mentioned some very interesting details, regards for the post.

  71. county mutual insurance company

    Sept. 21, 2015
    4:30 p.m.

    Whats amazing note here. It would be great to use your info for future posts or comments.

  72. amica insurance phone number

    Sept. 22, 2015
    3:53 p.m.

    Get quotes by zip code from top insurance companies.

  73. amax insurance dallas

    Sept. 22, 2015
    5:25 p.m.

    It takes only few minutes to get quotes and save on home or auto insurance policies.

  74. amax insurance longview tx

    Sept. 22, 2015
    5:55 p.m.

    Get quotes by zip code and save up to 505 annually.

  75. Anonymous

    Sept. 23, 2015
    2:53 a.m.

    I truly appreciate this post. I have been looking everywhere for this! Thank goodness I found it on Bing. You have made my day! Thx again

  76. federal mutual insurance

    Sept. 23, 2015
    7:08 a.m.

    Compare quotes to save more on auto and home insurance here.

  77. federated insurance quotes

    Sept. 23, 2015
    11:48 a.m.

    Get quotes by zip code from top insurance companies.

  78. Anonymous

    Sept. 23, 2015
    3 p.m.

    Hi, Neat post. There’s an issue along with your site in internet explorer, might check this… IE nonetheless is the market chief and a good component of other people will miss your great writing due to this problem.

  79. Anonymous

    Sept. 24, 2015
    12:02 a.m.

    Hi, I think your site might be having browser compatibility issues. When I look at your website in Safari, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, fantastic blog!

  80. Anonymous

    Sept. 26, 2015
    2 p.m.

    Howdy just wanted to give you a quick heads up. The words in your content seem to be running off the screen in Safari. I’m not sure if this is a formatting issue or something to do with internet browser compatibility but I thought I’d post to let you know. The design and style look great though! Hope you get the issue fixed soon. Cheers

  81. Anonymous

    Sept. 26, 2015
    10:02 p.m.

    I truly appreciate this post. I¦ve been looking all over for this! Thank goodness I found it on Bing. You have made my day! Thx again

  82. Anonymous

    Sept. 29, 2015
    12:51 a.m.


  83. Anonymous

    Sept. 30, 2015
    4:06 a.m.


  84. Anonymous

    Oct. 1, 2015
    1:17 a.m.


  85. acuity sheboygan jobs

    Oct. 1, 2015
    5:25 p.m.

    Combine & compare to save more on quotes. Get cheapest insurance here

  86. Anonymous

    Oct. 4, 2015
    5:48 a.m.

    Hi my family member! I wish to say that this post is amazing, great written and come with approximately all significant infos. I’d like to see extra posts like this .

  87. omega insurance brokers

    Oct. 7, 2015
    10:45 a.m.

    Get cheaper quotes, save more on insurance quotes here!

  88. omega insurance agency

    Oct. 7, 2015
    11:29 a.m.

    Comparison of quotes on auto or home insurance. Choose rates and save more on policies.

Sign In

Forgot password?



Receive daily coverage of the people, politics and personality of Capitol Hill.

Subscription | Free Trial

Logging you in. One moment, please...