student loans. remember, the rate doubled after lawmakers failed to compromise. erin is live. what do we know? >> reporter: chris, college students and their parents need to know that these interest rates are going up, doubling. and the senate today at noon is going to vote on whether to begin to debate harry reid's proposal that would cap interest rates at 3.4%. in the meantime, college students are stuck in limbo. >> i do worry that i'll have a problem finding a job. and if i have a problem finding a job, well, there you go. i can't pay back my loans. >> reporter: college students all over the country just like georgetown university's brandon anderson are getting slapped with higher loan rates. if congress doesn't act fast, anderson says he'll have to bay a whopping $4,000 more after graduation. right now, about 7 million students who take out federally subsidized student loans will see their interest rates jump