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House Expected To Vote On Student Loan Deal

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House Expected To Vote On Student Loan Deal

Politics

House Expected To Vote On Student Loan Deal

House Expected To Vote On Student Loan Deal

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On July 1, student loan rates doubled — and the issue has been a thorn in Congress' side since. On Wednesday, the House is expected to vote on a bipartisan agreement. Unlike past deals, this one would tie the student loan rate to the financial markets. That could mean higher rates down the line as the economy improves. But for now, it would mean lower rates again.

RENEE MONTAGNE, HOST:

NPR's business news starts with hope for a student loan dean.

(SOUNDBITE OF MUSIC)

MONTAGNE: On July 1st, most student loan rates doubled, and it's been a political and PR thorn in Congress' side since then. Today, the House is expected to vote on a bipartisan agreement. Unlike past deals, this one would tie the student loan rate to the financial markets. That could mean higher rates down the line as the economy improves. But for now, it would mean lower rates again, and would be retroactive to the beginning of this month.

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