Posted at: 07/25/2013 10:22 AM
By: Elizabeth Reed, KOB.com
A bipartisan deal promising to lower student loan rates this fall passed the Senate, but two Democratic U.S. senators from New Mexico casted conflicting votes on the issue.
The plan links federal student loan interest rates to the financial markets, which means the rates could stay low for the next few years, but will climb once the economy improves.
Sen. Martin Heinrich is for the plan and says the measure will save New Mexico students and their parents money.
However, Sen. Tom Udall told KOB Eyewitness News 4 he wants to see a more sustainable plan.
The bill now heads to the House.