Murkowski, Begich Split on Student Loan Vote

Alaska's U.S. senators have split on moving forward with a bill that would have restored lower interest rates on federal subsidized Stafford loans for a year.

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by Associated Press

JUNEAU- Alaska's U.S. senators have split on moving forward with a bill that would have restored lower interest rates on federal subsidized Stafford loans for a year.
The vote was 51-49. Sixty votes were needed to move forward. Democratic Sen. Mark Begich voted yes. Republican Sen. Lisa Murkowski voted no.
The measure was intended to provide time for comprehensive college affordability legislation and to avoid higher interest rates on new loans. The loan rate doubled to 6.8 percent on July 1.
Begich, in a statement, expressed disappointment in the vote, saying leaders should be making college more affordable. He says big banks shouldn't get better rates than students on federal loans.
Murkowski said students deserve the lowest rates possible and a permanent solution. She said she's optimistic one can be found.