Interest rates for subsidized stafford student loans have doubled

Students to pay more for loans

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.