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to deal with the impending doubling of the interest rate of new Stafford subsidized student loans. That leaves the rate to double to 6.8 percent unless lawmakers can strike a deal.

efforts of U.S. Democratic Rep. Keith Ellison of Minneapolis on the matter

Democrats have been trying to get a two-year extension of the current rates to buy time for a comprehensive solution. Republicans have wanted to establish a floating market-based rate -- an idea similar both to that proposed in the Obama budget, and the one passed by the House. The two sides differ on rate details, however.

U.S. Republican Rep. John Kline of Minnesota told Yahoo! in an interview posted yesterday:

Watch Kline's interview and read the summary here

Washington Post story of the political wrangling here

Education News

On Campus Blog

Alex Friedrich

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As you may know, the U.S. Senate has failed to pass a bill to deal with the impending doubling of the interest rate of new Stafford subsidized student loans. That leaves the rate to double to 6.8 percent unless lawmakers can strike a deal. (I’ve covered the efforts of U.S. Democratic Rep. Keith Ellison of Minneapolis…

U.S. Rep. John Kline: Senate wringing its hands over student loan rates

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