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Senators Reach Bipartisan Deal on Student Loans

HeadlineJul 18, 2013

Senate members have reached a bipartisan agreement that could reverse the doubling of interest rates on federally subsidized student loans. The interest rate for Stafford loans climbed to 6.8 percent earlier this month after Congress failed to reach a deal to avoid the hike. Under the agreement, students could see a lower rate through 2015, but then see those rates jump as they become attached to financial markets. A vote on the proposal could come as early as today.

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