U.S. Senate passes bill lowering student loan rates

The U.S. Senate approves a bipartisan deal that ensures lower interest rates on loans for college students.  The measure, approved by a 81 to 18 vote, lowers interest rates for undergraduates taking out graduate loans for college to 3.86%, much cheaper than the 6.8% interest rate that kicked in on July 1. The new interest rate is retroactive and apply to student loans taken out after July 1.

For more on the story click here.

Filed in: News

Suggest a correction