Contrary to media reports that a deal was reached to avert a student loan interest rate increase on Wednesday, a spokesman for Senate Majority Leader Harry Reid (D-NV) said that negotiations are still ongoing.
“There is no deal on student loans that can pass the Senate because Republicans continue to insist that we reduce the deficit on the backs of students and middle-class families, instead of closing tax loopholes for the wealthiest Americans and big corporations,” said Adam Jentleson told TPM in a statement. “Democrats continue to work in good faith to reach a compromise but Republicans refuse to give on this critical point.”
