The bill also would cut student loan interest rates in half, to 3.4 percent over five years. The House of Representatives last week approved a bill seeking a similar rate reduction.
While promoting affordability, the package also would affect what Kennedy calls the “basic life choices” of America’s youth. He says high college costs discourage many from careers in teaching, social work or law enforcement, which have lower salaries than other jobs not in public service.
The bill will “help reform our broken student loan system,” said Kennedy.© Copyright 2005 by DiverseEducation.com
