Student Loans

Congress is working to dial-back, the doubling of student loan rates, that kicked in during the July Fourth recess.

FOX News Radio's Jared Halpern reports from Washington:

Federally subsidized student loan interest rates jumped to 6.8% last week, Congressional leaders scrambling for a fix.

(Reid) "The two Republican proposals, one from the House and one from the Senate, are worse than nothing."

Senate Majority Leader Harry Reid, instead pushing a rate freeze, extending the debate another year.

(Alexander) "Why in the world the Senate would leave seven million middle income families twisting in the wind, when we have a chance for a permanent solution, I cannot imagine."

Tennessee Republican Lamar Alexander supports a plan that links student loans to market factors and treasury rates.

In Washington, Jared Halpern, FOX News Radio.