Student loan agreement reached between Senate and Congress

By Kelly J Newson

The Senate and Congress have been going back and fourth trying to reach a deal in not allowing student loans to double come July 1, 2012. The deal will cost $6 billion and will be paid for by curbing companies’ tax breaks for pension payments and limiting federal subsidies of student loans. This deal will affect new loans starting July 1. Now an estimated 7.4 million students can have some peace of mind that their student loans will not be doubling when July 1, 2012 rolls around.