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College students wait on the steps of the House of Representatives for Speaker of the House John Boehner (R) of Ohio, and GOP leaders to arrive for a news conference on federal student loan rates which doubled on July 1, at the Capitol in Washington, D.C., Monday, July 8. (J. Scott Applewhite/AP)

8:57 am ET -

A key student loan rate doubled last week after Congress refused to act, but the majority Democrats in the Senate are split and the party leadership is looking for a short-term fix.

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