ARIZONA NEWS

ASU president urges federal government to fix student loans

Aug 1, 2013, 5:00 AM | Updated: Aug 23, 2013, 12:38 pm

PHOENIX — A deal that gives college students and parents lower interest rates on loans is heading for the desk of President Barack Obama for approval and a different president wants that bill to be signed.

“I don’t think members of Congress realize that the rest of the world is evolving,” said Arizona State University President Michael Crow. “We need things resolved quickly. Student loans are an important investment for kids to have a chance. Those who need the help should get the help. It’s important to have those interest rates as low as possible.”

Crow also said that the lack of urgency in Congress is affecting the decisions of both students and their families.

The bipartisan compromise links student loan interest rates to the financial markets. Undergrads would borrow at 3.9 percent this fall. Graduate students would have access to loans at 5.4 percent and parents would be at a borrowing rate of 6.4 percent.

The White House said Congressional approval of the new loan structure would save the average undergrad at $1,500 dollars in interest charges.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

BASIS Peoria high school ranks best in the nation, US News says...

KTAR.com

West Valley high school ranked as best in nation by US News

The newly released 2024 best high schools rankings from U.S. News declared the BASIS Peoria high school as the best in the nation.

2 hours ago

The American and Ukrainian flags wave in the wind outside of the Capitol on Tuesday, April 23, 2024...

Associated Press

Senate overwhelmingly passes aid for Ukraine, Israel and Taiwan with big bipartisan vote

The Senate has passed $95 billion in war aid to Ukraine, Israel and Taiwan, sending the legislation to Biden after months of delays.

4 hours ago

Expand Sky Harbor: Phoenix mayor announces terminal plans...

Serena O'Sullivan

Phoenix city leaders want a new terminal at Sky Harbor Airport

Phoenix Mayor Kate Gallego announced city leaders' intentions to expand Sky Harbor International Airport during a Tuesday speech.

4 hours ago

Pages from the United Healthcare website are displayed on a computer screen, Feb. 29, 2024, in New ...

Associated Press

UnitedHealth says wide swath of patient files may have been taken in Change cyberattack

The company said after markets closed that it sees no signs that doctor charts or full medical histories were released after the attack.

5 hours ago

James LoMenzo, Dirk Verbeuren, Dave Mustaine and Kiko Loureiro attend SiriusXM's 'Trunk Nation' wit...

Damon Allred

‘Destroy All Enemies’ tour comes to Phoenix courtesy of metal band Megadeth

Heavy-rocking band Megadeth announced Tuesday a nationwide tour that stops in Phoenix in August with guests Mudvayne and All That Remains.

6 hours ago

Tuesday morning collision kills man...

KTAR.com

Man run over while pushing shopping cart on Phoenix roadway

A man is dead after a Tuesday morning collision near 35th Avenue and Osborn Road, the Phoenix Police Department announced.

7 hours ago

Sponsored Articles

...

DESERT INSTITUTE FOR SPINE CARE

Desert Institute for Spine Care is the place for weekend warriors to fix their back pain

Spring has sprung and nothing is better than March in Arizona. The temperatures are perfect and with the beautiful weather, Arizona has become a hotbed for hikers, runners, golfers, pickleball players and all types of weekend warriors.

...

Midwestern University

Midwestern University Clinics: transforming health care in the valley

Midwestern University, long a fixture of comprehensive health care education in the West Valley, is also a recognized leader in community health care.

...

DISC Desert Institute for Spine Care

Sciatica pain is treatable but surgery may be required

Sciatica pain is one of the most common ailments a person can face, and if not taken seriously, it could become one of the most harmful.

ASU president urges federal government to fix student loans