Looks like all college students can put the Ramen Noodles on hold for now.
On Wednesday evening, a bipartisan group of senators reached a deal and decided to offer college students better rates on loans this fall – but higher rates in future years.
This agreement came about after lawmakers met with President Obama at the White House.
This deal would offer college students lower interest rates through the 2015 academic school year, but after the academic school year, the rates would likely climb higher in the spring of 2015.
Democrats won a protection for students that rates would never climb higher than 8.25 percent for undergraduate students. Graduate students would not pay rates higher than 9.5 percent, and parents’ rates would top out at 10.5 percent.
A final vote on the agreement should be reached early today.
The college struggle!
Source: USA Today
