Advocacy groups for students and teachers are urging Congress to reject a hard-fought deal on student-loan interest rates, saying it would not do enough to protect future borrowers from rising rates, and would balance the federal budget on the backs of students.
In a letter to Senate leaders sent on Thursday, they argued that students “should not be seen as a cash cow,” and urged lawmakers to return the rate on subsidized federal loans to 3.4 percent for a year, so members of Congress can continue to negotiate a long-term fix.
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