Interest rates on government-funded student loans are due to increase this summer and are projected to continue to rise for the next decade, according to a Congressional Budget Office analysis.  College students who take out government-funded, tuition loans are likely to see the interest rates on their student loans increase by nearly 1 percent July 1, with rates by 2024 likely to be from 2 to 4 percent higher than current rates. The sharp rise stems from a change Congress mandated last year requiring the rate new borrowers pay for the term of the loan to be set each July 1. The rate for new student loans is to be adjusted based on the last auction in May for the 10-year Treasury rate. Congress mandated the change in July 2013 when Treasury was prepared to double the interest rates. Congress members panicked, realizing they faced a massive public relations problem, and responded with the current fix, which locks in interest rates to a formula for 10 years and establishes caps. More