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Lawmakers To Vote As Early As Thursday To Undo Stafford Loan Hikes

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TWC News: Lawmakers To Vote As Early As Thursday To Undo Stafford Loan Hikes
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The Senate has made a deal to lower interest rates to student borrowers.

Lawmakers will vote as early as Thursday to undo rate hikes to Stafford loans, which doubled from 3.4 percent to 6.8 percent on July 1.

If the new measure passes the Senate, Congress would have enough time to reverse those cost hikes before the start of the fall semester.

The deal would offer students less than 4 percent interest through the 2015 academic year, but would push the rates up to more than 8 percent after that.

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