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U.S. Sen. Johnson like deal on student loan rates

WASHINGTON D.C. (WTAQ) - Wisconsin U.S. Senator Ron Johnson says he likes the latest bipartisan student loan deal, saying he will likely vote in favor of the bill.

The proposal calls for market rates to tie into interest rates, but capped to prevent rates from going too high.

Under the bill, graduates would pay a starting rate of 3.86 percent and graduates would pay a slightly higher rate – starting at 5.41 percent.

The U.S. Senate is likely to vote on the deal next week.