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Senators ready to restore lower college loan rates
A bipartisan compromise ties new loan rates to market costs promising lower rates for undergraduates at 3.9 percent and graduates at 5.4 to 6.4 percent, delaying a feared double rate hike. The deal could hold through the 2015 academic year, with rates rising as borrowing costs rise. Senate leaders call it progress though some negotiators lament gaps in the final plan.
MENTIONED IN THIS ARTICLE
Washington, D.C
Senate
Durbin
Tom Harkin
Iowa
Senate Health, Education, Labor and Pension Committee