Student Loan Rates to Rise
A measure by democrats to temporarily reverse the doubling of interest rates on millions of loans subsidized by the Government fell short in the Senate on Wednesday, but negotiations on a possible compromise to stop the rise continue.

Supporters need 60 votes to pass the plan to roll back rates but received only 51, with signs along the lines of party split.
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Student loans can get even more expensive

Interest rates were doubled to 6.8% for Stafford subsidized loans July 1 because of the inaction of Congress hold their stable course in the next academic year.

Republicans are pushing for a broader approach, saying new costs for loans guaranteed by the Government must be covered with spending cuts in other programs.

Majority Senate Harry Reid said negotiations on a compromise are making progress.

The struggle of this summer is similar to that which took place last year when Congress has acted to prevent an increase in the middle of a presidential campaign.

Student loan debt has skyrocketed over the past years, as defaults, which in fact a political and financial issue pressing for millions of Americans.

At Federal Reserve Bank of New York report last year highlighted the magnitude of the problem, by showing that the debt of student loans has increased to $ 956 billion. It's more than the debt car loan or credit card debt.

For the class of 2013, a large part of the debt is in loans from the Government, graduates due to an average of 26,000 dollars, according to a survey from Fidelity of 750 college graduates.
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