Last week I wrote about President Barack Obama’s annual fight with Congress over the interest rate on government-backed student loans.
Obama has one plan. Congressional Republicans (Reps. John Kline (R-Minn.) and Virginia Foxx (R-N.C.)) have another. And Senator Elizabeth Warren has a third. There are other plans floating around developed by both Republicans (Sens. Tom Coburn (R-Okla.) and Richard Burr (R-N.C.)) and Democrats (Sens. Jack Reed (D-R.I.) and Dick Durbin’s (D-Ill.)) in the Senate.
Erika Eichelberger, Maggie Severns, and Brett Brownell over at Mother Jones take a look at the three plans and show us what’s different:
I’ve pointed out before that none of these “play around with interest rates” plans will actually have any significant impact on the real burden of American college debt but, well, for individual students, some of these plans are a lot better than others.
Check out the MoJo article here.