The Senate on Thursday failed to take up two separate bills that would have lowered the interest rate on subsidized student loans, now set to double on July 1 to 6.8%.
Some 7 million undergraduates may have to dig deeper in their pockets when they pay off the loans upon graduation, if Congress can't come to a deal.
If this sounds familiar, it is. Last year, facing a July 1 deadline, Congress put off any tough decisions and kept rates the same.
This time, the White House and Congress agree that something should be done, but they don't agree on what.