Compromise ends student loan stalemate. Is it the best solution? | Get Schooled | www.ajc.com

Compromise ends student loan stalemate. Is it the best solution? | Get Schooled | www.ajc.com:

Get Schooled: Student loan rates don't matter to graduates who can't find decent jobs

 Michael Moroney is the director of communications at the Franklin Center for Government and Public Integrity, a free market oriented nonprofit news organization.  I thought this essay was timely in light of the student loan compromise approved in the Senate Thursday.  The compromise now goes to the House. ...

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Compromise ends student loan stalemate. Is it the best solution?  

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By Maureen Downey

Many parents of teens about to start college will be relieved over this news out of Washington.

From the office of Iowa Sen. Tom Harkin:

Today, Senate Health, Education, Labor, and Pensions (HELP) Committee Chairman Tom Harkin (D-IA)—working with U.S. Senators Joe Manchin (D-WV), Richard Burr (R-NC), Angus King (I-ME), Tom Coburn (R-OK), Tom Carper (D-DE), Lamar Alexander (R-TN), and Dick Durbin (D-IL)—introduced a bipartisan compromise, the Bipartisan Student Loan Certainty Act, to lower interest rates for 100% of borrowers who have taken out, or will take out, a new federal student loan after July 1, 2013. As part of the bipartisan compromise, Senator Harkin secured caps on all loans, including an 8.25% cap on all undergraduate loans. 

“I am pleased that this student loan compromise includes hard, front-end caps on