Force Federal Reserve to Give Discount Rate to Student Loans

Sen. Elizabeth Warren (D-Mass.) is by no means alone in her belief that the U.S. government should give college students the big-bank treatment.

More than 250,000 members have signed a petition demanding Congress set student loan interest rates at the same level as that offered to big banks by the Federal Reserve, a proposal put forth in Warren’s first-ever Senate bill last week.

Warren herself launched the petition on, a community of more than 8 million Americans focusing on progressive issues. If Congress doesn’t act before July 1, some student loan rates will increase to 6.8 percent from their current 3.4 percent rate. Warren’s bill seeks to limit student loan interest rates to just 0.75 percent. …

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