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America's Money: Loan interest rates double for college students

Topping ABC's "America's Money," college students get some tough news.

Loan interest rates doubled at midnight for more than 7 million students.

Congress left town for the 4th of July vacation without doing anything to stop the rates from going up.

Lawmakers could still vote to lower the rates. July 1 also means new tax laws in some states.

Shoppers could find themselves paying more for telephone ringtones, digital audio book downloads, and music.

The first Chevrolet Corvette rolled off the assembly line 60 years ago this week.

More than 1.5 million Corvettes have been produced.

The first Corvette, sold for about $3,500, back in 1953.

"Monsters University" is still at the head of the class.

The Disney Pixar animated film earned 46 million in ticket sales this weekend.

But it was the battle of the buddy movies for second place.

"The Heat" earned $40 million in its opening weekend, topping the $25 million debut haul of "White House Down."


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