POSTED: Wednesday, June 27, 2012 - 4:00pm
UPDATED: Wednesday, June 27, 2012 - 4:14pm
If you're a college student or the parent of one, you're probably dreading Monday.
That's when federal student loan rates are set to go to 6.4% from the current 3.2.
But, it looks, tonight, like congress and the white house will make an agreement to prevent that.
It would be another down-to-the wire deal.
And it's not done, said house republicans.
"We're moving, I think, towards an agreement. A lot of work that's gone into this. It's not finished yet," said House Speaker, John Boehner.
With no deal, student loan rates double on Monday to 6.4%.
More than seven million students would be affected.
Preventing that would look like a win for President Obama, who's campaigned on the issue at schools in swing states.
Republicans say the President delayed agreement to fire up more students and parents to vote for him.
A deal would also keep highway funding going.
Democrats slammed the delay on that.
Boehner is going ahead Thursday on the vote to find Obama Attorney General Eric Holder in contempt of Congress.
Republicans will also be focused on the Supreme Court and Thursday's decision on Obamacare.
"If the court does not strike down the entire law, the house will move to repeal what's left of it," said John Boehner.