WASHINGTON (AP) — President Barack Obama has signed into law a bill to restore lower interest rates on loans for millions of students heading back to college this fall.

Friday's Oval Office ceremony caps a frenzy of negotiations that led to a rare bipartisan compromise to lower rates before classes resume.

The new law links student loan interest rates to the financial markets. It restores lower rates this fall but could yield higher costs if the economy improves in the years ahead.

BET National News - Keep up to date with breaking news stories from around the nation, including headlines from the hip hop and entertainment world. Click here to subscribe to our newsletter.  

(Photo: JASON REED/LANDOV)