WASHINGTON (CNNMoney) — Some students will start owing more on their loans while they?re in school under a last-minute debt ceiling deal to keep the country out of default and reduce deficits by at least $2.1 trillion over a decade.
As part of the savings to trim the deficits, Congress would scrap a special kind of federal loan for graduate students. So-called subsidized student loans don?t charge students any interest on the principal of student loans until six months after students graduated. Congress would also nix a special credit for all students who make 12 months of on-time loan payments.