Unless something is done by July 1, student-loan rates will
double, hindering young people's ability to go to college or
contribute to the economy by paying for anything but their
student loans afterward.  In 2007, with the economy headed
south, Congress decided to lower interest rates on federally
subsidized Stafford loans, from 6.8 percent to 3.4 percent over
several years. So far, so good. Except that now that change is
set to expire, setting rates back to where they were — a level
that is too high.  House Republicans have passed a plan with a
variable interest rate pegged to the 10-year Treasury rate plus
2.5 percentage points, capped at 8.5 percent. That means a
student's interest rate can change from year-to-year, which is a
terrible idea. The plan is likely to raise rates above the 6.8
percent threshold by the time this year's incoming freshmen
graduate from college, according to the advocacy group EdTrust.
In short, it's expensive for students.  The president would like
to set interest rates based on