Senators Reach Loan Deal - The compromise would be retroactive, so students taking out loans after July 1 would get the new interest rate. Based on Wednesday's Treasury yield, undergraduate loans issued today would have an interest rate of 4.5 percent; graduate loans, 6.5 percent; and PLUS loans, 7.2 percent. All are lower than the rates for those loans under current law.
Final details on the interest rate are awaiting a score from the Congressional Budget Office, expected midday today. But late Wednesday night, the group agreed that all...
