As the school year draws to a close and a new crop of students heads off to college this fall, the age-old challenge of paying for it is on the minds of many. But this year another group is taking up that challenge: Congress, and the President.
On July 1, the interest rate for federal education loans is going to increase from 3.4 percent to 6.8 percent if Congress does not take action, which is where bill H.R. 1911 comes in.
This bill proposes tying the interest rate of education loans to the 10-year treasury note rate plus 2.5 percent.
