Originally published on Sat June 30, 2012 1:26 pm
It came down to the wire, but finally, Republicans and Democrats agreed on a deal that keeps the interest rate on government-backed student loans from doubling. It will save the average borrower about $1,000 a year, but the compromise is likely to cost students a lot more than that over the long term.
The agreement that lawmakers passed Friday will keep interest rates at 3.4 percent for another year. Anthony DeLaRosa, a 23-year-old University of Colorado graduate, says it's a big victory.
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