Senators leave the Hill without student loan resolution
UNDATED (WHDH) -- Senators left Capitol Hill Friday without a resolution as federal student loan rates are set to double on Monday.
College students marched on the Capitol and blasted lawmakers for failing to act. The deadlock in the Senate ensures that the rates will double to 6.8 percent on July first.
The House approved lower student loan rates back in May.
“Students of this country have a right to quality education and they shouldn’t be burdened by evey spiraling interest rates on their student loan,” said Rep. Eric Cantor (R) Virginia.
Democrats in the Senate said if they approve lower rates in July or later, they can make them retroactive. But so far there’s no sign of a deal on the issue.