simple, costs are going to go up to the parents and students and they re going to have to start looking at dollars in different places, whether it s where they live or how many classes they take. it s a darn shame because in the last week we ve had this immigration bill that they put all kinds of give aways in, billions of dollars, yet they can t get something like this done to the most important thing and that s our future, the students. arthel: we don t want to make this political, but i m just saying that apparently most of the democrats wanted to lock in the current 3.4% rate. maybe for two more years, while congress can debate a fairer solution. do you think this is good strategy and if not, how would you advise congress on handling or setting these student loan rates? at this point in time, time has run out. i would give it another year for right now. but the big issue is the cost of colleges has gone up 7% a year for many years right now. the reason they re able to do that i
past few weeks. stock futures higher again this morning. federal officials have been hinting they re in no hurry to do anything rash when it comes to propping up the bond market. the damage has been done to mortgage rates. 309-year fixed rate mortgage jumping by the biggest amount in 26 years, that rate spiked a half of a percentage point to 4.46%. look at that. the jump comes a week after ben bernanke signaled policymakers may consider pulling back on stimulus if the economy can handle it. student loan rates will double to 6.8%, interest rates are rising on just about everything, folks. you re going to like the way you look, he s going to like the deal he made with the board. george zimmer will still be paid $1 million over the next four years for the tv ads he s already done for the company and going to get that money whether men s wearhouse uses the ads or
while we are talking rates, don t forget the clock is ticking on student loan rates. the loans will double monday. 6.8% unless congress steps in to find a solution. it s $5,000 extra kids are going to pay because of the loan rates. ceos pay is back to levels. look how it compares to the average worker. the average worker earns 273 times more than the average worker. ceo compensation stood at $14 million last year. $14 million. it s a fair amount of money. same 40-hour week. bigger house, bigger car, bigger summer home. 26 minutes after the hour. coming up, a new twist in the murder mystery that landed an nfl star behind bars. aaron hernandez linked to two
there s no way you re going to be able to get around it. reporter: congressman graves says the new taxes are especially onerous for people who don t have a lot of money but still want to, quote, protect their family, their property or themselves. jon? jon: lots of thorny issues in this one. molly henneberg, thank you. jenna: well, we re all in this next story together, america. temperatures are high coast to coast, and in one part of the country, well, you could see temperatures reaching 130 degrees. it s being called one of the worst heat waves in years. we ll bring you the latest on the weather coming up next hour. and economist ben stein will be here as well as mortgage rates jump, you know, we re seeing a rise in mortgage rates. they re still at historic lows, jon, we can t get ahead of ourselves here, right? jon: but it could cool that market, right? jenna: it could. that s what we re going to ask ben stein about as well as student loan rates. those are set to double on monday
you reflected just now on the fact that you ve noticed things have changed since 1996. what do you think of the party today? well, i am an economic, a foreign policy republican. i guess you would say that i have differences of opinion with those republicans who want a small government in everything except the social area where they want a big government to control everyone s personal lives. one of the things that frustrated me back then and still frustrates me today. can t we understand the difference between civil marriage and religious marriage? i don t know of anybody anywhere who is saying we should be mandating what any religion s theology or practice ought to be. this is a very different conversation. indeed. i agree with that distinction, sir. now today you work in higher education, presently student loan rates in five days are going to double if congress can t come to an agreement. if you were in congress today,