Political Quotes

“I ask unanimous consent that the reading of the amendment be dispensed with. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment is as follows: (Purpose: To provide for interest rate caps for certain Federal student loans) Beginning on page 3, strike line 9 and all that follows through line 13 on page 5 and insert the following: ``(ii) 6.8 percent. ``(B) Rates for graduate and professional fdusl.-- Notwithstanding the preceding paragraphs of this subsection, for Federal Direct Unsubsidized Stafford Loans issued to graduate or professional students, for which the first disbursement is made on or after July 1, 2013, the applicable rate of interest shall, for loans disbursed during any 12- month period beginning on July 1 and ending on June 30, be determined on the preceding June 1 and be equal to the lesser of-- ``(i) a rate equal to the yield of the 10-year Treasury note auctioned at the final auction held prior to such June 1 plus 3.6 percent; or ``(ii) 6.8 percent.…”