12 July, 2013

CNN Breaking News

A bipartisan group of senators has reached a tentative deal to help students facing a doubling of interest rates on government-backed student loans, according to aides close to the deal.

Interest rates on subsidized loans doubled on July 1 because of congressional inaction. About seven million students were affected. This deal would change rates for all government-backed student loans.

The group would still need the support of 60 senators for their proposal to clear the chamber. After that, it would have to clear the GOP-controlled House.

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