Bill would increase interest rates for new student loans (The Seattle Times)

Students � who will borrow as much as $1 billion next year in federal student loans � would face hundreds of dollars more in interest payments under the congressional budget bill.

The bill passed the Senate 51-50 last week and is expected to pass the House of Representatives a final time next month. It would cut $12.7 billion from student aid over five years, a figure that accounts for about one-third of the projected savings across all sectors of the economy.