Obama Warns of Doubling of Student Loan Rates

“That means that the average student with those loans will rack up an additional $1,000 in debt,” Mr. Obama said at an event in the White House Rose Garden. “That’s like a $1,000 tax hike.” Both Democrats and Republicans say they want to head off an increase in the interest rate for federally subsidized student loans to 6.8 percent as scheduled on July 1, but they disagree about how best to manage the rates’ trajectory. Senate Democrats plan to vote to extend the

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