KGMI New Reporting
By Karen Taylor
WASHINGTON, D.C. – Unless Congress acts soon, college students will have to pay about $2,600 more on their loans.
The lower rate for subsidized Stafford loans expired yesterday and jumped to 6.8 percent.
The U.S. House and Senate have tried at different times in the last year to pass one or two year extensions to the reduced rate, but could not come up with a plan before yesterday’s deadline.
Congresswoman Suzan DelBene says the issue needs to be a priority.
DelBene thinks they will be able to come up with a bill to extend the lower interest rate before students return to school in the fall.