student loans

Student Loan Interest Rates
10:55 am
Fri July 19, 2013

Coburn Joins Plan For Lower College Loan Rates

Credit U.S. Senate

U.S. Sen. Tom Coburn (R-Okla.) is part of a bipartisan group of eight senators announcing a deal that lets students avoid higher interest rates on federal loans.

The bipartisan group of senators on Thursday told reporters they've reached a compromise to lower the rates for students who borrow from the federal government.

The rates would be linked to financial markets, meaning interest rates would climb in coming years — but with a limit on how high the rates could be.

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