Congress may be close to reaching a last-minute deal to stop interest rates on popular federal student loans from doubling – but experts say this reprieve won’t provide enough help for the nation’s many cash-strapped students. Rates on subsidized Stafford loans, which are scheduled to jump to 6.8% July 1, would remain at 3.4% for undergraduates under an agreement reached by Senate leaders Tuesday for one more school year. House Republicans will have to agree to the extension in order for it to go into effect, but experts say it’s likely an agreement will be reached this week.
With less With less than 10 days left for Congress to prevent interest rates on student loans from doubling, President Obama called on students to tell lawmakers: double down on America’s future, don’t double my rates. June 21, 2012.
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