The Student Debt Deal Trade-Off?

July 25, 2013

With the flourish of a bipartisan brush, the Senate approved a bill last night to lower federal student loan interest rates, providing a measure of relief to the 7 million students preparing to finance their futures this fall. Undergraduates borrowing for college this year will pay a 3.86% interest rate, instead of the previous 6.8% rate, while recipients of graduate student and parent loans will pay 5.4% and 6.5%, respectively. However, these likely will be the lowest interest rates students and their families receive for the foreseeable future.

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