With a July 1 deadline looming, it seems unlikely that Congress will be able to stop interest rates on new federal student loans from doubling. But there may be time to address the situation before classes begin next fall.
About 7 ½ million students nationwide pay for a portion of their college tuition through subsidized Stafford Student loans. Right now, interest rates will go from 3.4% to 6.8% on July 1st.
"There is a window of opportunity for Congress to still act."