Senate approves bi-partisan student loan bill

WASHINGTON, D.C. — The Senate approved a bipartisan deal that ensures lower interest rates on student loans.

Senators voted to lower the interest rates for undergraduates taking out government loans this coming school year to 3.8 percent. This is lower than that the currently 6.8 percent which kicked in July 1.

The new rates would apply to loans taken out after July 1.



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