Interest rates for subsidized stafford student loans have doubled
Students to pay more for loans
Last Updated: 151 days ago
Congress is back in session today, and student loan rates are a major issue.
The senate failed to compromise by a July 1st deadline and now interest rates on student loans have doubled--from 3.4% to 6.8%.
Lawmakers can't seem to get past the issue of whether to create a cap on new loans.
Senate democrats want the cap in case interest rates spike.
That's at odds with proposals from the president and congressional republicans, which links rates to 10-year treasury bond rates.
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