By Chuck Weber/CBS 12
PALM BEACH GARDENS-- Congress returned to session Monday, but the prospect for achieving a deal on student loans remained uncertain.
Before heading back to Washington, local Democratic representatives Patrick Murphy, Ted Deutch, and Lois Frankel, held a discussion on student loans at Palm Beach State College's north campus in Palm Beach Gardens.
Congress failed to reach an agreement on student loans before the July Fourth break. So as of last week, rates on government subsidized Stafford loans automatically doubled from 3.4 percent to 6.8 percent.
"It affects me directly, because I'm going to have to take out student loans," said Palm Beach State student Janie Andrushka. "If that doubles, I don't even know what I'm going to do."
The state's recent college graduates leave school with an average of more than $23,000 in student loan debt. An increase in rates means grads will pay thousands more through the life of their loans.
"I know some people that I work with, that have over $100,000 in student loans, and they're working at CVS," said Matthew Bush, another Palm Beach State student.
Both political parties support bringing student loan rates back down, but disagree on how to do it. Senate Democrats wanted a cap on rates for new loans. But a bill passed by the Republican-controlled House would allow rates to rise in the future, linked to the rates of 10-year Treasury bonds. The President also has his own plan.
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