The debate between lawmakers is not about whether the rate should rise, but about how to link the most popular government loan it to the yield on the 10-year Treasury note. Federal loan limits for undergrads are $5,500 the first year, $6,500 the second year and $7,500 in the final years. Graduate students no longer dependent on their parents may also receive Stafford loans. Those involved in the negotiations have said that the disagreement at the center of the debate is about how much profit there should be for the government. Senate Majority Leader Harry Reid, Democrat from Nevada, says most in his Party believe there should be no profit at all while Republicans “want deficit reduction” and...
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