The House and Senate are poised to approve a compromise today that would keep student loan rates from rising. Members of Rhode Island’s congressional delegation tell RIPR they expect the measure to pass both the House and Senate.
The deal stops interest rates on subsidized Stafford loans from doubling. The current rate of 3.4 percent will increase to 6.8 percent on Sunday if the measure does not go through.
An estimated 40,000 Rhode Island students will face rising loan bills without action this week from Congress. Senate Democrats and Republicans are looking for a way to avoid the increase, but if they fail to reach a compromise, interest rates on subsidized federal Stafford loans will double on July 1st, rising from 3.4 percent to 6.8 percent.
Economics has surpassed the biological sciences as the most popular field at Brown University. Roughly 220 members of the undergraduate class of 2012 will receive economics degrees during commencement exercises this weekend.
Biological sciences are the second most popular degree with 200 concentrators, while international relations comes in a distant third.
Thousands of college and university students received degrees across the state this weekend, but across the state, nearly half of Rhode Island residents do not have a bachelor’s degree. Business analysts often cite this statistic as one of the factors behind Rhode Island’s slow economic recovery.
To find out what’s behind the number, I met four Rhode Islanders who started college but never finished their degrees. They explained what got in the way of college, and what their lives have been like since leaving school.