Dive Summary:
- Senators have a deal to temporarily keep interest rates on student loans low, one lawmaker's aide said; another Senator's aide said the deal was not finalized.
- Interest rates on new Stafford loans reached 6.8% this month when lawmakers did not meet a deadline to prevent an automatic increase.
- The plan would drop interest rates to 3.4% for two years, but then allow them to rise again.
From the article:
... Undergraduates would see loans go as high as 8.25 percent after 2015, graduates would face rates as high as 9.5 percent, and parents would face rates as high as 10.5 percent. ...
