Senate breaks without changes to student loan rates

Last-ditch efforts to keep federal student loan interest rates from doubling failed to gain momentum before the Senate recessed for the July Fourth holiday, as lawmakers got hung up on issues such as cost and borrower protection. As a result, rates on certain new Stafford loans are set to double Monday to 6.8%. Some lawmakers say they could still vote the week of July 7 to pass a retroactive bill.

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