Got student loans? You are far from alone: More than 38 million Americans have outstanding student loan debt totaling nearly $1 trillion, and those numbers are rising fast. This month, Congress will consider proposals to keep the interest rates on direct federal student loans down. (If it doesn't act by July 1, the rate for one kind of loan will double from 3.4 percent to 6.8 percent.) Regardless of what lawmakers do, many students and graduates will still have to take on large amounts of debt to pay for college.
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