U.S. Rep. Blaine Luetkemeyer (MO-3) today voted in support of a permanent solution that would fix and lower interest rates for all newly issued student loans:

“In May, the House passed the Smarter Solutions for Students Act which would have stopped student loan interest rates from rising and gotten Congress out the business of arbitrarily setting student loan interest rates,” Luetkemeyer said. “I am pleased the Senate agreed to our approach and that we were able to send a bill that is very close to what we originally proposed to the president’s desk for his signature.  Now that Congress is out of the business of arbitrarily setting student loan interest rates, our federal student loan programs will be stronger and better serve the interests of both borrowers and taxpayers.”