You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Student loan rate set to double

Deal still possible before students will feel impact

WASHINGTON — The interest rate on a federal loan available to low-income students is scheduled to double on Monday to 6.8 percent because Congress was unable to agree on a long-term fix or temporary extension before adjourning for the holiday recess.

The rate hike on federally subsidized Stafford loans — the largest federal student aid program — has been looming for a year since Congress struck a temporary deal amid the presidential race to keep rates at 3.4 percent until July 1.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week