U.S. Senate Blocks Lower Student Loan Interest Rates

4 years 9 months 2 weeks ago Wednesday, July 10 2013 Jul 10, 2013 Wednesday, July 10, 2013 2:53:00 PM CDT July 10, 2013 in News
By: Devon Fasbinder
loading

COLUMBIA - Students at the University of Missouri could face higher interest rates on student loans after the United States Senate failed to come to an agreement Wednesday on how to keep rates low.

The Senate voted 51-49 to leave interest rates at 6.8 percent, which is double the current rate of 3.4 percent.  The Senate needed 60 votes to pass the bill.  As of July 1, rates became 6.8 percent because Congress has not acted otherwise. 

KOMU 8 News spoke with students who are unhappy with the increased cost of paying back student loans.  One student is happy that he is about to begin his last year at MU because if Congress does not negotiate a lower rate, he will only have to pay 6.8 percent for one year.

"If I were coming into the situation right now as a freshman, I would definitely not be able to afford it nearly as well as I am now," said MU student Devin Kelsey.

Kelsey said he is very involved with MU's student government and would love to see politicians come to an agreement.  He said he is happy because he feels the MU student president is pushing to keep rates low.  But he said the politicians are the ones he feels need to do some negotiating.

"I think it's definitely a problem.  Nothing good is coming from the partisan bickering and not finding a compromise on this," Kelsey said.

More News

Grid
List
COLUMBIA - The People for Ethical treatment of Animals, PETA, protested Tuesday against animal research on MU's campus. Organizer... More >>
51 minutes ago Tuesday, April 24 2018 Apr 24, 2018 Tuesday, April 24, 2018 5:01:00 PM CDT April 24, 2018 in News
MISSOURI - A new report from the Violence Policy Center, a non-profit group advocating for gun control, shows that Missouri... More >>
2 hours ago Tuesday, April 24 2018 Apr 24, 2018 Tuesday, April 24, 2018 2:53:00 PM CDT April 24, 2018 in News
ASHLAND - As prom season begins, Rock Bridge High School said it will be breathalyzing its students upon entry to... More >>
3 hours ago Tuesday, April 24 2018 Apr 24, 2018 Tuesday, April 24, 2018 2:04:00 PM CDT April 24, 2018 in News
ST. LOUIS — The legal battle between lawyers from Missouri Gov. Eric Greitens and St. Louis prosecutors is escalating, with... More >>
4 hours ago Tuesday, April 24 2018 Apr 24, 2018 Tuesday, April 24, 2018 1:19:00 PM CDT April 24, 2018 in News
COLUMBIA - As prom and graduation seasons approach, underage drinking has become a hot topic in schools and amongst the... More >>
5 hours ago Tuesday, April 24 2018 Apr 24, 2018 Tuesday, April 24, 2018 12:24:00 PM CDT April 24, 2018 in News
COLUMBIA - Boone County deputies arrested a man on Monday after he allegedly tried to meet up with who he... More >>
8 hours ago Tuesday, April 24 2018 Apr 24, 2018 Tuesday, April 24, 2018 9:01:30 AM CDT April 24, 2018 in News
COLUMBIA - The Central Missouri Humane Society is celebrating its 75th anniversary, but its leadership isn't content with where the... More >>
9 hours ago Tuesday, April 24 2018 Apr 24, 2018 Tuesday, April 24, 2018 8:44:00 AM CDT April 24, 2018 in News
COLUMBIA - On Monday, more than 100 volunteers began the week-long effort to deliver more than 5,700 meals to raise... More >>
10 hours ago Tuesday, April 24 2018 Apr 24, 2018 Tuesday, April 24, 2018 7:04:00 AM CDT April 24, 2018 in News
COLUMBIA – The Columbia City Council met Monday night in a work session to discuss ways to improve Columbia's water... More >>
21 hours ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 8:00:00 PM CDT April 23, 2018 in Top Stories
COLUMBIA – Hundreds gathered at the first ever Japanese Spring Festival on MU’s campus Monday afternoon. Student Momoko Tamamura came... More >>
22 hours ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 7:21:00 PM CDT April 23, 2018 in Top Stories
JEFFERSON CITY – One local woman is reflecting on her decision to vote for President Donald Trump after some have... More >>
22 hours ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 7:00:00 PM CDT April 23, 2018 in Top Stories
ST. LOUIS (AP) — The law firm representing the ex-husband of the woman who had an affair with Missouri... More >>
1 day ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 5:45:00 PM CDT April 23, 2018 in Continuous News
JEFFERSON CITY (AP) — A Democratic Missouri state lawmaker says he won't step down despite facing backlash for repeatedly calling... More >>
1 day ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 5:21:20 PM CDT April 23, 2018 in Continuous News
COLUMBIA - MU staff members spent Monday afternoon discussing how the university could become Columbia's "employer of choice" again with... More >>
1 day ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 5:05:00 PM CDT April 23, 2018 in News
COLUMBIA - Residents moving into the Lynn Street Cottages in Columbia not only obtain four new walls, they also receive... More >>
1 day ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 4:14:00 PM CDT April 23, 2018 in News
COLUMBIA - Students at Rock Bridge High School will be attending prom this weekend, and for the first time ever,... More >>
1 day ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 4:13:00 PM CDT April 23, 2018 in Continuous News
JOPLIN - An EF-5 tornado struck the city of Joplin on May 22, 2011. The next day Jeff Neal, a... More >>
1 day ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 3:29:00 PM CDT April 23, 2018 in News
JEFFERSON CITY – Tax reform in Missouri is one step closer to becoming a reality. The Missouri House Ways... More >>
1 day ago Monday, April 23 2018 Apr 23, 2018 Monday, April 23, 2018 2:56:00 PM CDT April 23, 2018 in News
Columbia, MO
Broken Clouds 75°
6pm 72°
7pm 70°
8pm 68°
9pm 66°