Approximately 7.4 million students will see their Federal student loan rates double on July 1 if Congress fails to pass legislation to keep rates at the current 3.4 percent. A law passed in 2007 reduced the interest rate on subsidized Stafford Loans to undergraduate students for four academic years. Unless the interest rate break is continued, the average student will pay an additional $1,000 in interest each year. On his recent visits to universities, President Obama called on Congress to extend the rate cut. Although his presumptive Republican opponent, Mitt Romney, also urged lawmakers to act, the issue has since…

Legislation approved by the Senate on April 25 is aimed at saving the U.S. Postal Service (USPS), which has been losing money daily and plans to make drastic changes if Congress doesn’t act by May 15. Postmaster Patrick Donahue had proposed a series of cost-cutting measures, including eliminating Saturday and overnight delivery and closing up to 3,700 local post offices, mostly in small towns, and replacing them with automated centers operating out of local businesses. (See the February 2012 issue of Congressional Digest, “Saving the U.S. Postal Service.”) Donahue said that he had to cut $22 million in operating costs…