Washington, D.C. – Idaho Senators Jim Risch and Mike Crapo today voted for H.R. 1911, the student loan bill, as amended in the Senate. The bill passed the full Senate 81-18.
“Those who choose to attend college should have reasonable access to financial aid, whether it is through grants, scholarships or loans,” said Risch. “I am pleased that after several weeks of negotiations, the Senate was able to come together on behalf of our nation’s students.”
Passage of the student loan bill will bring interest rates for undergraduate students back down to 3.86 percent from 6.8 percent. Graduate students will now borrow at 5.41 percent and parents will borrow at 6.41 percent.