A lot of eyes will be on Capitol Hill today as word comes Republicans and Democrats are about to finalize a deal for new student loan interest rates.
Early reports from Washington say the new loan rates would be good through the 2015 academic year. Under the deal all undergraduates could borrow at 3.85%, graduate students would have access to loans at 5.4%, and parents could borrow at 6.4%.
The parties failed to reach an agreement on July 1 and the rates went up, but the reports out this morning that cited aides on Capitol Hill said if the new rates are passed they would be retroactive.