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Pension calculations figure into student loan, highways bill

The agreement to help contain student loan costs could be funded by $5 billion generated by changing the rules and rates for corporate pension contributions.

By Alan Fram and Joan Lowy | Updated on June 27, 2012

WASHINGTON (AP) — Congress is nearing agreements that would prevent a doubling of student loan interest rates and revamp the nation’s transportation programs, House Speaker John Boehner said Wednesday. If completed, the compromises would resolve two vexing issues on which lawmakers face weekend deadlines for action.

Boehner, R-Ohio, made his remarks a day after the Senate’s Democratic and Republican leaders said they’d reached a deal to prevent interest rates on new subsidized Stafford loans from doubling to 6.8 percent, beginning this Sunday. Their bipartisan agreement — which the White House backed — put pressure on Boehner to accept the deal, which if enacted would avoid antagonizing millions of students and their parents in an election year.

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