A possible rate hike for student loans in Illinois.
Legislators are working on restructuring student loan rates.
If a deal is not worked out the rates will double from 3.4 to 6.8 percent and that could mean students would have to pay an additional $1,000 over the life of their loans.
This rate hike will affect more than 365,000 Illinois students with Stafford Loans.
Lawmakers have until July 1st to come up with a plan.