Begich, Murkowski support student loan bill

Jul 24, 2013 -- 4:00pm
- JUNEAU, Alaska (AP) - Alaska's U.S. senators have voted with the majority on legislation that would link interest rates on federal student loans to the financial markets. Democratic Sen. Mark Begich referred to the compromise bill as a temporary fix that will provide short-term relief to students and their families. Meanwhile, Republican Sen. Lisa Murkowski referred to it as a permanent fix and a "big deal" for young Alaskans and their families. The bill is similar to one that has passed the U.S. House, and cast by President Obama as a "major victory" for students. Under the proposal, rates would be locked in for that year's loan. But rates would rise as the economy picks up and it becomes more expensive for the government to borrow money.

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