May 7, 2012
Updated May 7, 2012 at 9:50 AM EDT
WASHINGTON D.C. (Indiana’s NewsCenter) - Congress is back to work on student loans.
College loan interest rates are set to double July first.
The Senate will vote Monday, whether to debate a Democratic plan to keep rates where they are and pay for it by collecting more Social Security and Medicare payroll taxes from high-earning executives.
Republicans want a vote on their own bill which would also freeze the current rate for one year and pay for it by eliminating a preventative health program.
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