Thursday, June 7, 2012

Senator Reid makes new offer on US student loans

WASHINGTON/LAS VEGAS, June 7 (Reuters) - U.S. Senate Democratic leader Harry Reid on Thursday offered a new way to avert by the end of this month a doubling of the 3.4 percent interest rate on federal student loans.

A Senate Republican leadership aide said the proposal would be reviewed and that it may represent progress toward ending an election-year standoff that has seen each side accuse the other of bargaining in bad faith.

President Barack Obama, speaking to about 2,500 people at the University of Nevada Las Vegas, encouraged lawmakers to come to an agreement, saying, "So I just said to Congress, get this done ... This is not complicated."

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