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Obama signs student loan deal

3 years 2 months 1 week ago August 09, 2013 Aug 9, 2013 Friday, August 09 2013 August 09, 2013 12:29 PM in News
Source: Associated Press

WASHINGTON - President Barack Obama has signed into law a bill to restore lower interest rates on loans for millions of students heading back to college this fall.

Friday's Oval Office ceremony caps a frenzy of negotiations that led to a rare bipartisan compromise to lower rates before classes resume.

The new law links student loan interest rates to the financial markets. It restores lower rates this fall but could yield higher costs if the economy improves in the years ahead.

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