Law could hit area students in pocketbook

Law could hit area students in pocketbook
KETK
News
Friday, July 5, 2013 - 8:24am

Thousands of college students across Northeast Texas who receive federally subsidized school loans will pay twice the interest rate this fall if Congress fails to reach an agreement after the July 4 break.

The interest rate rose to 6.8 percent Monday after lawmakers allowed a one-year agreement keeping the rate at half that amount to expire. 

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