Student Loan Interest Rates Not Doubling
The United States Senate has reportedly reached an agreement to prevent student loan interest rates from doubling.
On July 1st, interest rates on subsidized loans are set to jump from 3% to almost 7%.
Lawmakers from both parties hope to keep the rate from rising, but disagree on how to offset the 6 billion dollars in losses to the Federal Treasury.
In a statement, the White House said it is pleased with the deal and hopes Congress sends the president a bill soon.
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