U.S. Senator Mike Johanns opposes a proposal submitted by the Senate leader to keep the college student loan rate from doubling this year.
Johanns, a Republican, complains the solution proposed by Democrats will hurt the economy by increasing the Social Security and Medicare payroll tax on high-earning stock holders and privately owned corporations.
Senator Johanns Comments: Click Here
The interest on subsidized Stafford loans will jump from 3-point-4 percent to 6-point-8 percent unless Congress acts by July first.
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