Stafford Loan Interest Rates Increase Today
July 1st, 2013 by Jonathan Frankel
The date, long dreaded by college students and campus administrators around the US, has finally arrived. Thanks to congressional inaction, students who take subsidized government loans after Monday, July 1st will see their interest rates double from 3.4% to 6.8%.
That means that the already high burden of student loan debt – the affected subsidized Stafford loans are government student loans primarily made to US students whose families’ make less than $50,000 – will only increase. Read the rest of this entry »