Dems' Student Loan Rate Bill Stalls In Senate

Law360, New York (May 8, 2012, 4:27 PM EDT) -- A Democrat-backed bill that would extend current student loan rates for one year by closing corporate tax loopholes stalled in the U.S. Senate on Tuesday, with Senate Republicans preferring House legislation that would pay for the extension by cutting a key plank of the health care reform law.

The motion to advance the Stop Student Loan Interest Rate Hike Act only passed by a 52-45 vote, short of the 60 votes needed to prevent a Republican filibuster.

The bill, which would prevent federal student Stafford loan...
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