On Wednesday July 10, 2013 the United States Senate (which remains a Democratic majority) failed to maintain student loan rates low, a move which once again shows the failure of the American government in ensuring the well financial being of the future of America.
The proposal which the Senate failed to pass would have left interest rates at 3.4% for another year. However, since the proposal did not pass undergraduates can be facing rates twice as high as the ones they enjoyed last year.
"Today, we failed. And our nation’s students pay the cost of that failure." - Sen. Tom Udall.