Tue 2:33 p.m.: Students may pay higher interest rates

U.S. Sen. Sherrod Brown (D-OH) will hold a news conference call Wednesday regarding legislation to prevent a hike in interest rates for Stafford student loans.

The current interest rate is set at 3.4 percent, but will double to 6.8 percent unless Congress takes action.

The 6.8 percent increase would go into effect July 1 but would not apply to loans that are currently in repayment or that have already been disbursed.

For the full report, see Wednesday’s Tribune Chronicle.