Congress has given final approval to a bipartisan measure lowering student loan rates for now, only to hike them in just a few years. The interest rate for Stafford loans climbed to 6.8 percent last month after Congress failed to reach a deal to avoid the hike. Under the new measure passed by the Senate last week and the House on Wednesday, students will pay a lower rate through 2015, but then see those rates jump as they become attached to financial markets. The bill now goes to the White House for President Obama’s signature.
Student Loan Bill Hiking Future Rates Clears Congress
HeadlineAug 01, 2013