Senate Passes Student Loan Bill, Rates Lowered - Presented by: The Aol. On Network

The bill, which ties student loan rates to the market but also caps the maximum rate, is a band-aid meant to undo the doubling of student loan rates that happened July 1. The good news: it's retroactive, so students will borrow at 3.8%, close to the 3.4 it was before rates changed. The bad news: it could later go as high as 8.25%.



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