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Student loan compromise heads toward final vote

FILE - In this July 17, 2013 file photo, House Education Committee Chairman Rep. John Kline, R-Minn., left, followed by House Majority Whip Kevin McCarthy of Calif., walks to the House chamber on Capitol Hill in Washington. A deal that gives college students and their parents lower interest rates for loans is heading toward its final vote. The House was expected Wednesday to take up a bipartisan compromise that links student loan interest rates to the financial markets. Immediately, borrowers would see lower rates for classes this year than last, although the costs are expected to climb in coming years if the economy improves as expected. (AP Photo/J. Scott Applewhite)

FILE - In this July 17, 2013 file photo, House Education Committee Chairman Rep. John Kline, R-Minn., left, followed by House Majority Whip Kevin McCarthy of Calif., walks to the House chamber on Capitol Hill in Washington. A deal that gives college students and their parents lower interest rates for loans is heading toward its final vote. The House was expected Wednesday to take up a bipartisan compromise that links student loan interest rates to the financial markets. Immediately, borrowers would see lower rates for classes this year than last, although the costs are expected to climb in coming years if the economy improves as expected. (AP Photo/J. Scott Applewhite)

WASHINGTON (AP) ? A deal that gives college students and their parents lower interest rates for loans is heading toward its final vote.

The House was expected Wednesday to take up a bipartisan compromise that links student loan interest rates to the financial markets. Immediately, most borrowers would see lower rates for classes this year than last, although the costs are expected to climb in coming years if the economy improves as expected.

"This is a victory for students and taxpayers, and I look forward to the bill's swift passage in the House," said Rep. John Kline, the Republican chairman of the House Committee on Education and the Workforce.

Undergraduates this fall would borrow at a 3.9 percent interest rate for subsidized and unsubsidized loans. Graduate students would have access to loans at 5.4 percent, and parents would borrow at 6.4 percent. The rates would be locked in for that year's loan, but each year's loan could be more expensive than the last. Rates would rise as the economy picks up and it becomes more expensive for the government to borrow money.

But for now, interest payments for tuition, housing and books would be less expensive if the House passes the bill, as expected.

The chamber earlier this year passed legislation that is similar to what the Senate later passed. Both link interest rates to 10-year Treasury notes and remove Congress' annual role in determining rates.

Negotiators of the Senate compromise were mindful of the House-passed version, as well as the White House preference to shift responsibility for interest rates to the financial markets. The resulting bipartisan bill passed the Senate 81-18.

Republican House Speaker John Boehner has signaled his caucus should support Senate changes to the earlier bill. So, too, has Rep. George Miller of California, the top Democrat on the House education panel.

The House-written student loan bill passed the GOP-led chamber 221-198, largely along party lines. Eight Republicans crossed party lines to vote against it; four Democrats voted in favor of it.

With changes made in the Senate ? most notably a cap on how interest rates could climb and locking in interest rates for the life of each year's loan ? Democrats were expected to join Republicans and back the bill.

Interest rates would not top 8.25 percent for undergraduates. Graduate students would not pay rates higher than 9.5 percent, and parents' rates would top out at 10.5 percent. Using Congressional Budget Office estimates, rates would not reach those limits in the next 10 years.

Even with those protections not all Democrats will back it, cautioned House Democratic leader Nancy Pelosi. She said this "isn't the bill we would have written, but it is a bill that can pass and will have Democrats voting for and against."

The White House has endorsed the deal and President Barack Obama is expected to sign the bill into law, despite objections from consumer advocates that the outline could cost future students.

"The bottom line is that students will pay more under this bill than if Congress did nothing, and low rates will soon give way to rates that are even higher than the 6.8 percent rate that Congress is trying to avoid," said Chris Lindstrom, higher education program director for the consumer group US PIRG.

Rates on new subsidized Stafford loans doubled to 6.8 percent July 1 because Congress could not agree on a way to keep them at 3.4 percent. Without congressional action, rates would stay at 6.8 percent ? a reality most lawmakers called unacceptable.

The compromise that came together during the last month would be a good deal for all students through the 2015 academic year. After that, interest rates are expected to climb above where they were when students left campus in the spring, if congressional estimates prove correct.

The White House and its allies said the new loan structure would offer lower rates to 11 million borrowers right away and save the average undergraduate $1,500 in interest charges.

Democratic senators were already talking about changing the deal when they take up a rewrite of the Higher Education Act this fall. As a condition of his support, Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin won a Government Accountability Office report on the costs of colleges. That document was expected to guide an overhaul of the deal just negotiated.

The Congressional Budget Office estimated the bill as written would reduce the deficit by $715 million over the next decade. During that same time, federal loans would be a $1.4 trillion program.

___

Follow Philip Elliott on Twitter: http://www.twitter.com/philip_elliott

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2013-07-31-US-Student-Loans/id-f306e65de36348f7a4faea55ad174821

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The Mayor?s Race Shifts Into Latino Overdrive

Council Christine Quinn and former Comptroller Bill Thompson at Latino-oriented campaign events.

Council Speaker Christine Quinn and former Comptroller Bill Thompson at Latino-oriented campaign events.

At the height of a blistering heat wave that pummeled the city two weeks ago, City Council Speaker Christine Quinn stepped from a black SUV that lingered near the sidewalk just long enough to let its precious cargo leave. The former governor of Puerto Rico, Sila Mar?a Calder?n, draped in a regal gold jacket, had flown from San Juan to join Ms. Quinn and formally endorse her for mayor of New York City.

Once inside a larger recreational room of the Bronx?s Andrew Jackson Senior Center, filled to the brim with primarily Hispanic seniors, the pair of female politicians were announced like the Rolling Stones gracing the stage of Madison Square Garden.

?We have the first woman who was the governor of Puerto Rico and we have the first woman who is going to be the mayor of the City of New York,? Assemblywoman Carmen Arroyo declared, drawing uproarious applause.

?I think having support in the Latino and Hispanic community is critical, central to winning the Democratic nomination and winning the mayor?s office,? Ms. Quinn told Politicker in an interview a week later, after a string of seemingly nonstop visits to Hispanic senior living centers, policy proposals addressing immigration issues and appearances on Latino media outlets.

Hours after the conversation, her campaign unveiled ?Latinos Unidos con Quinn,? a list of more than 500 Latino endorsers. Before that, she had released ?Nueva York 2014,? a ?comprehensive Spanish-language guide to Chris?s record of delivering results for the city?s Latino communities.? A Twitter account, ?@LatinosConQuinn,? touts her accomplishments in Spanish on social media. And as July approached its final weeks, the crippling heat wave subsiding in favor of cloudy temperate skies, Ms. Quinn did not let up on her intense focus on the city?s Hispanic electorate.

John Liu accepts an endorsement from the National Latino Officers Association.

John Liu accepts an endorsement from the National Latino Officers Association.

She wasn?t the only one racking up an increasingly long list of Latino-oriented events, either.

During the week of Ms. Calderon?s visit, former Comptroller Bill Thompson rolled out an endorsement from Fernando Ferrer, the 2005 Democratic nominee for mayor, at an event announcing ?new efforts to help grow Latino small businesses.? Public Advocate Bill de Blasio defended an anti-racial profiling bill with Councilwoman Melissa Mark-Viverito and Assemblyman Luis Sepulveda at his side. And everyone from former Congressman Anthony Weiner to longer shots like former Councilman Sal Albanese vowed to stop by a salsa festival in El Barrio featuring stickball. The list goes on and on.

Latino voters have never been seen as more important. On the heels of a presidential election where their vote was considered a decisive factor, the group is expected to play a larger role than ever before. In the 2009 mayoral race, exit polls showed 21 percent of voters identified as Hispanic. The National Institute for Latino Policy reported that this number is expected to climb to nearly 30 percent for this year?s Democratic primary?placing them roughly on par with African-American participation

At this point, though, there is no outright winner among the throng of Democratic candidates. The Latino polling numbers mirror whoever is leading overall?Ms. Quinn is ahead, for now?a correlative relationship that is fluctuating week by week, especially in the aftermath of Mr. Weiner?s cringe-inducing re-scandalization.

(Photo: NiLP)

(Photo: NiLP)

?They?re divided; they?re all over the place supporting different candidates,? Angelo Falc?n of the National Institute for Latino Policy told Politicker. ?We have something that is different from years back, the last couple of elections. It?s very more reminiscent of how things used to be a long time ago in New York City.?

There are actually two Latino mayoral contenders. One, former Bronx Borough President Adolfo Carri?n Jr., dropped out of the Democratic Party altogether and is campaigning for Gracie Mansion on the Independence Party?s line?an uphill battle, but one that will be decided after the September 10 Democratic contest. (He?s also been enjoying some rare attention from the mainstream media, including very favorable mention of his transit proposals in the Times.) The other is the conservative Reverend Erick Salgado, whom Mr. Falc?n referred to as ?the comic relief in the debates,? cracking Carlos Danger jokes with the best of them.

Mr. Thompson seems to have made some of the biggest headway in at least securing key endorsements, encompassing both Dominican and Puerto Rican backgrounds that the vast majority of Latino voters will also share.

Northern Manhattan State Senator Adriano Espaillat?s backing was rolled out at the start of the month. ?I think that people know him,? Mr. Espaillat, the most prominent Dominican-American pol in the city, told Politicker. ?They refer to him as the guy who almost beat Michael Bloomberg. They remember him.? ?When I?m with Billy Thompson, especially in the Bronx, whether it?s the black community, the Latino community, there?s a certain level of enthusiasm that is not reflected in the polls that we?re seeing now,? Bronx Borough President Ruben Diaz, a top Puerto Rican official, concurred.

Although it?s still far from clear whether Mr. Thompson will indeed rise to the top, if Ms. Quinn?s lead holds, Mr. Weiner regains his footing, or if Mr. de Blasio will start clicking, interest in the Latino vote has unquestionably shifted the policy dialogue in the campaign.

Although it?s still far from clear whether Ms. Quinn?s lead will hold, interest in the Latino vote has unquestionably shifted the policy dialogue in the campaign.

Two weeks ago, Ms. Quinn unveiled a plan to spend $18 million over the next two years to help ensure that undocumented immigrants can acquire legal jobs and get driver?s licenses. Mr. de Blasio has proposed a citywide identification card program, something John Liu staunchly opposes as ?a separate and unequal system? that doesn?t go far enough. Mr. Thompson has unveiled a ?Big Apple-Big Dreams? initiative to provide financial aid for undocumented students. And the candidates, who often pepper their debate performances with Spanish phrases, have vowed to continue the current mayor?s practice of making official announcements in both English and Spanish.

Bill de Blasio supporters "getting ready to cha cha in the Bronx Dominican Day Parade." (Photo: Twitter/deBlasioNYC)

Bill de Blasio supporters ?getting ready to cha cha in the Bronx Dominican Day Parade.? (Photo: Twitter/deBlasioNYC)

So the courting continues. Last Sunday, many of the candidates marched in the Bronx?s Dominican Day Parade.

The street was filled with a sea of tricolored Dominican flags, waved feverishly to the rhythms of reggaeton and Spanish music blaring from car and parade float speakers. Everyone from Ms. Quinn?wearing a sash across her bright pink blouse?to Republican candidate John Catsimatidis, waving from the top of his own parade float, showed up on the rainy afternoon.

But as they marched up Grand Concourse Boulevard, supporters and signs in tow, the crowd seemed generally unmoved by the candidates; excited to be outside enjoying the day and the music but ambivalent to the individuals fighting for their votes.

As Mr. Liu walked along the parade route, passing out literature and giving handshakes, observers greeted him and his team of megaphones with socially required niceties, but not much more.

Joshua Batista, 31, one of many on the sidelines, remained unswayed by the overzealous efforts of the candidates. He said he hadn?t yet decided who had his vote.

?It?s crunch time. Seven weeks,? he noted. ?They?re going to try to put their best out there. They?re going to try to see what they can do. What can they entice us with??

Follow Gideon Resnick on Twitter or via RSS. gresnick@observer.com

Source: http://politicker.com/2013/07/the-mayors-race-shifts-into-latino-overdrive/

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IMF: UAE economy recovering, but debt woes linger

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Source: gulfnews.com --- Tuesday, July 30, 2013
Agency asks Dubai to fix its budget and avoid another boom-and-bust cycle ...

Source: http://gulfnews.com/imf-uae-economy-recovering-but-debt-woes-linger-1.1215086?localLinksEnabled=false&utm_source=Feeds&utm_medium=RSS&utm_term=Business_RSS_feed&utm_content=1.1215086&utm_campaign=IMF:_UAE_economy_recovering,_but_debt_woes_linger

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Live wallpaper brings iOS7-like background effects on Android

1. thephonedude posted on 3 hours ago 7

apple hate comments in 3...2....1...

I expected that. there's always a bunch of immature baboons who have no sense of being rational infiltrating P.A Posts relating to apple or Android.. possibly windows phone.
tell me, what's the point of saying "FROFLROOFLFLFLFILFFLOLOLOOOL Apple suksssss! Android ownzzz" or "WOW REVOLUTIONARY! (Old joke, bob.)"? I don't see How you twats would gain from flaming companies. I used androids and iDevices and I must say both are really good. if only someone heroic and brave enough to obliterate bIased rage nerds and geeks off of this website...

3. wendygarett posted on 3 hours ago 5

Sorry dude, ios make it wrong, and android just correct that

5. roscuthiii posted on 3 hours ago 2

Kinda seems like you're inviting it to happen now though...

I mean, yours is the first comment and it's not even about the article. It's about comments that haven't/hadn't even occurred yet. Ever heard the term: self-fulfilling prophecy?

12. itsdeepak4u2000 posted on 1 hour ago 0

Yes +1 to you, I also wanted to comment the same.

6. AmitMajumder posted on 3 hours ago 2

Ya, Dude. These people can be divided in 3 categories :-
1) Apple fan - "Android is great but I love iOS"
2) Android fan - "iOS is great but I love Android"
3) Idiots - "Apple sucks, BLA BLA Android is great / Android is copy, Apple is the real one And BLA BLA BLA...."

2. thephonedude posted on 3 hours ago 2

BTW good that apple is back into the game......the new ios look shows that cupertino changed their direction. I'm looking forward to what innovations they will make (no sarcasm intended).
BTW here's something for the people who thinks tremendously high specs on a phone is everything- specs are like clothes. Branded clothes. for you to show off. Software and OS is like a person's character- what you are really made off. ;)

4. roscuthiii posted on 3 hours ago 0

Normally I would not pay for a wallpaper, but... does look pretty cool for only $0.99. I'll give it some time out on the Play Store first though to see if customer comments confirm or deny it's effect on battery life.

7. E34V8 posted on 3 hours ago 6

Such wallpapers were present in Google Play, long ago.

Maybe Apple took a little insPIRATion from them :) . Just joking.

8. Mercenary posted on 3 hours ago 0

I'm using it right now..it's nice but doesn't worth to pay for..it must be free.

10. scriptwriter posted on 1 hour ago 0

I brought an android smartphone because i dont like apple or apple products. Why would i want to make my phone look like an iphone? Pointless!! Completely!!!

11. bogdancirstea posted on 1 hour ago 0

free http : // w w w47.zippyshare.com/v/97324538/file.html

13. itsdeepak4u2000 posted on 1 hour ago 0

Nice Live wallpaper of iOS7-like background effects on Android.

Source: http://feedproxy.google.com/~r/phonearena/ySoL/~3/pRxk-UNHmfs/Live-wallpaper-brings-iOS7-like-background-effects-on-Android_id45893

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'Cory will forever be in my heart' Lea Michele thanks fans for their suppport via Twitter

The 26-year-old star, who has not been seen in public since Cory passed away on July 13, shared a message as well as a personal photo of them together on her Twitter and Instagram pages.

"Thank you all for helping me through this time with your enormous love & support. Cory will forever be in my heart," she wrote alongside the intimate snap which shows Lea cuddling up to Cory in a beach as they grin for the camera.

It has obviously been a very difficult time for the brunette, who has been spending a lot of time with Cory's mother after helping to organise his funeral.

Lea has also been seeking solace in her grief from her fellow Glee cast and joined them for a memorial service last week "to share memories and music in an emotional celebration of the life of Cory," according to a statement.

Cory, who played Finn Hudson in Glee, was found dead in his hotel room in Vancouver earlier this month.

Results later showed that he had died from a heroin and alcohol overdose - despite having been in rehab earlier on in the year.

Source: http://feedproxy.google.com/~r/daily-express-showbiz-news/~3/KGaJlDjT6EU/Cory-will-forever-be-in-my-heart-Lea-Michele-thanks-fans-for-their-suppport-via-Twitter

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