US students to have lower interest rates back

A bipartisan group of senators reached a deal to restore lower student loan interest rates this fall. However, higher rates would be expected in future years, according to The Inquisitr.

The deal would offer students lower interest rates through the 2015 academic year.After that, rates could reach as high as 8.25 percent for undergraduate students, 9.5 percent for graduate students and 10.5 percent for parents under the agreement, says Global Post.

If Congress can do nothing to mitigate the rapidly increasing costs of higher education, it should at least take this opportunity to give students a chance to decrease the number of student loan defaults that often ruin lives and invest in us: America's future, reports The Daily Tar Heel.