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Students with government loans to see rates double

OHLAP college OU

Students preparing to take subsidized government loans will see their interest rates double to 6.8 percent.

The change takes effect Monday but all hope isn’t lost.

Lawmakers are trying to strike a last-minute deal to save the 7 million college students slated to take the subsidized federal Stafford loans this year.

The higher rates only apply to new loans.

Only congress can change the rates.