Students relieved with deal to restore lower loan rates
WASHINGTON – Students heading off to college in a few weeks can breathe a small sigh of relief Thursday.
A group of senators reached a deal to restore lower interest rates on student loans.
The plan would offer undergraduate students a 3.85 percent interest rate.
Graduate student loans are a bit higher at 5.4 percent.
Those lower interest rates will be effective through the 2015 academic year but rates could spike again after that.
A vote on that agreement could happen as early as Thursday but it could also be pushed into next week.
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