Obama signs student loan deal

Published: Friday, Aug. 9, 2013 1:33 p.m. CDT

WASHINGTON (AP) — 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.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Reader Poll

How much do you plan to spend on landscaping this year?
less than $100
$100-$300
$300-$500
more than $500