Today, members of congress proposed a deal that would prevent some student loan interest rates from doubling on July 1.
Students from many families rely on Stafford Student loans from the government.
As of now, the interest rate on the government subsidized portion of the loan is at 3.4% if you borrow the maximum amount.
If congress doesn't act, that number will double, something college administrators don't want to see and hope doesn't stop people from pursuing a college degree.
"On the whole, we in education wish this was not happening to any segment of the any populations we serve, but again, it's not of the magnitude that it should stop people from pursuing the education that best fits them," said Dr. Brenda Poggendorf, an admissions head at Roanoke College.
If the interest rates go up that means students will pay 38-hundred extra dollars over the ten years they repay those loans.