Republicans block Senate proposal to keep student loan rates low

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Republicans block Senate proposal to keep student loan rates low08 May 2012 The political battle over President Obama’s plan to keep student loan interest rates from skyrocketing escalated as Senate Republicans [Grade ‘A’ sociopaths] blocked a Democratic proposal to tax wealthier earners to pay for it. Republicans stopped the effort with a filibuster. Rates for 7 million new undergraduate student loans are set to double to 6.8% on July 1 if Congress fails to act. The vote was 52-45, failing to reach the 60-vote threshold needed to overcome the GOP filibuster.

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