No deal on loans — from by Libby Nelson


On Thursday, though, the clock ran out: the Senate’s failure to reach a deal to avert an interest rate hike for federally subsidized student loans means the rate will double Monday.

The failure to vote on a plan before the Senate adjourned for its July 4 recess Thursday night means that interest rates on new, federally subsidized loans will double to 6.8 percent Monday.