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The Boston Globe

Politics

New bill in Congress to address student loan rates

WASHINGTON -- A Democratic bill introduced in the Senate and House on Thursday would prevent student loan rates from doubling as scheduled in July, while capping them in the future and permitting students to refinance current loans to a lower rate.

The Responsible Student Loan Solutions Act would overhaul the student loan rate structure and determine interest rates based on the cost of operating the programs. Doing so, legislators say, would allow students to benefit from the lowest interest rate that the federal government could offer.

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