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Interest rates on student loans staying put, for now

D.C.-- Student loan debts can be crippling for college graduates, and on Friday, The House voted on a bill that would keep interest rates on those loans from doubling for another year.

The debate will continue into The Senate where The Democrats have a different plan for paying for it.

While Washington dukes it out, students are watching closely.

Rachel Lyn Runson, a student loan debt protester in Portland said, "People who graduated with an education in the 1960's have a whole different experience. They could afford their educations. They could pay them off. This generation is a generation of debt."

The Obama Administration said if the student loan interest rate doubles, it would cost low and middle-income students an average of $1000 over the life of their loan.

 

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