school loans

Education
5:34 pm
Wed July 31, 2013

Congress Passes Student Loan Compromise

The U.S. House of Representatives overwhelmingly approved a Senate compromise today that shrinks student loan rates. Members of Utah’s congressional delegation say it was a good bipartisan deal. 

Earlier this month, rates on federally subsidized student loans doubled from 3.4 percent to 6.8 percent after Congress failed to reach a deal before a July 1st deadline. In a retroactive move, the U.S. Senate agreed on a bill last week that would bring those rates back down.

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