June 24, 2005
Democrats Embrace Variable-Rate Loans
Top Democrats on the U.S. House of Representatives' education committee announced last week that they would introduce legislation to give borrowers the choice of consolidating their federal student loans at either a fixed or a variable interest rate.
The Democrats' plan represents a shift in their position on the refinancing issue. For two years they had fought efforts by the Republican leaders of the panel, the Committee on Education and the Workforce, to limit the ability of
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