According to Yahoo! Finance, on July 1, the interest rates on student loans subsidized by Uncle Sam will most likely double to 6.8%. Congress and the White House agree that something should be done to prevent that, but nothing has been finalized. The report also said that "the odds are about 7 million students taking out subsidized loans for the next school year will pay more to pay them off."

Matthew Chingos, an education policy fellow at the Brookings Institution, says nothing will be done to prevent it. "Nothing will happen. They won't agree. And the rate will sunset back to 6.8%," he said.

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