Yesterday, the House finally did something to help ordinary people. They passed The College Student Relief Act of 2007 by a vote of 356-71.

The Democrats’ bill is implemented gradually over the course of five years. Students starting college this fall will see interest rates lowered from 6.8% to 6.12%, and those starting in the fall of 2011 will see interest rates drop to 3.4%. Democrats claim that the measure will save the average borrower “approximately $4,400 over the life of their loan.”

“Our young people should be driven by their dreams, not weighed down by debt,” said Speaker Nancy Pelosi in a statement after the bill’s passage. “At a time when college tuition continues to skyrocket, this crucial legislation will help remove some of the barriers to a higher education,” she added.

I’m in a good mood. We’re seeing our first snow of the winter here in Philly and Congress is starting to get some results. Right now the House is debating a bill to sock it to the Big Oil companies. We fought their war, we deserve some of the profits.

0 0 votes
Article Rating