Education News

Obama Signs Bill to Freeze Student Loan Rates

Obama Signs Bill to Freeze Student Loan Rates

Good news came late Friday for student loan borrowers…

Student loan rates for Stafford subsidized loans will not increase as was planned but will remain at 3.4 percent effective immediately. President Barak Obama signed it into law last week. The temporary bill is expected to be made permanent before it expires on July 6, 2012.

The bill passed on a 74-19 vote in the Senate and a 373-52 vote in the U.S. House of Representatives.

Read more about this story at College Bound blog at Education Week.

Photo Courtesy: Education Week/White House