Ten days after interest rates on student loans doubled for more than 17,000 students in Hawaii, and more around the country, a fix remains mired in partisan politics. A Democratic proposal that would have restored lower rates for a year failed to break a filibuster by Senate Republicans yesterday.

Both Hawaii senators voted in favor of the proposal and decried the inaction afterwards.

“If Congress doesn’t act to restore the low rates, these borrowers will pay nearly $1,000 more on their loans this coming school year, a significant burden that will hurt students and the economy,” said Sen. Mazie Hirono.

Sen. Brian Schatz said, “It is our responsibility to ensure that everyone who wants to go to college has the ability to do so without drowning in debt.  It is critical that we prioritize our students and reach a compromise to reduce the student loan interest rate permanently.”

Politico reports today that senators are working on a new plan.

—Kery Murakami

 

 

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