New student loans will have higher rates for now

POSTED: 08:00 PM EDT Jun 26, 2013    UPDATED: 05:37 PM EDT Aug 01, 2013 

As of now, the interest rate on the government subsidized portion of the loan is at three-point-four percent if you borrow the maximum amount. Because the Senate could not make a deal, the rate will now go to 6.8 percent.