Interest rates on student loans set to double July 1
OTTUMWA, IOWA -- On July 1, interest rates on government-subsidized student loans are set to double from their current rate of 3.4 to 6.8 percent. Unless Congress acts to stop this increase, students will pay an additional $1,000 for each year they take out loans to pay for their education.
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From: KTVOtv
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Sen. Moran Statement on Senate Passage of Student Loan Interest Rate Bill
U.S. Senator Jerry Moran (R-Kan.) released the following statement today after Senate passage of the bipartisan agreement to address federal student loan interest rates. The legislation reverses the July 1, 2013, rate hike on subsidized Stafford loans, and provides a permanent solution for interest rates on all new student loans taken out after July 1.
From: Jerry Moran
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Congress inaction to double student loan rates
Congress faces July 1 deadline on doubling interest rate on subsidized student loans and if it doesn't act, interest rates on new federally subsidized student loans will increase from 3.4% to 6.8% on July 1. That means that low income students have no choice other than go to a college and do something themselves or to join Armed Forces and there is no bankruptcy protection for the loans, as Stef Gray, consumer advocate told RT.
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From: RT America
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Student Loan Rates Double; What Are Long-Term Solutions?
Effective July 1, subsidized Stafford loan rates doubled from 3.4 to 6.8 percent, increasing costs for lower- to middle-income students. Gwen Ifill talks to New America Foundation's Kevin Carey and Anne Johnson of the Center for American Progress on whether Congress will propose long-term solutions to curb growing college debt.
From: PBS NewsHour
Related topics : subsidized loan rate / student loan rates
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