Congress may have averted a doubling of interest rates on millions of
new federal student loans, but the fix is only for a year, leaving
students on edge over whether they’ll face a similar increase next
summer.
“It’s scary,” said Faith Nebergall, a student at Indiana University
whose loans currently total upward of $20,000. “And it’s unfair to kind
of be kept in the dark as to how much money we owe.”
Under the agreement, interest rates on new subsidized Stafford loans
will remain at 3.4 percent. That’s estimated to save 7.4 million
students about $1,000 each on the average loan, which is usually paid
off over 10 or more years.
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1 comment:
dot com schools like Strayer and the Washington Post's Kaplan University have a better than 90% rate of students that do not make the first payment on their obligations...I wonder if there is fraud by the Student or the Institution or a combination of both?..Kaplan is included on the corporate balance sheet and Donald Graham has actively lobbied the Executive Branch on it's behalf
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