Maryland students could be on the hook for an extra $95.4 million if an increase to federal loan interest rates goes into effect this summer.Interest rates on subsidized federal student loans are set to double from 3.4 percent to 6.8 percent on July 1, when a cut that has kept the rates low expires. A total of 105,027 Maryland students have subsidized federal student loans, with an average loan debt of about $24,000. The increase to interest rates would add an extra $909 to every student’s tab, according to a report by Maryland PIRG.
A college affordability program that had kept rates low for Stafford student loans expired in 2012. Congress extended the rate for another year, but have yet to approve a similar extension.
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2 comments:
This president is destroying America he is breaking down ALL of our Constitutional rights one by one i DON'T know how this country is going to survive another 3.5 yrs of him in office Mark my word we WILL have Sharia law in this country just look at Europe and Radical Islam...Wake up People,its not whether you are a dem/rep its about Doing whats right for America.
6:16 this is not the president's doing this is the republican congress.
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