The House Appropriations Committee got a different look at the cost of six years’ worth of higher education cuts Monday, as the push is on for colleges and universities to better prepare students to fill new jobs coming to Louisiana.
The interest rate on government-backed student loans is going to jump from 3.4 percent to 6.8 percent Monday.
Republicans, Democrats and the Obama administration could not agree on a plan to keep it from happening. Lawmakers say a deal is still possible after the July 4 recess. But if they don't agree on a plan soon, 7 million students expected to take out new Stafford loans could be stuck with a much bigger bill when they start paying the money back.
It has been one of the more heated debates in Washington this year.