Attention

The opinions expressed by columnists are their own and do not represent our advertisers

Friday, July 12, 2013

Senate Reaches Tentative Deal On Student Loan Interest Rates

One day after failing to move forward on a one-year extension of low interest rates on federal Stafford student loans, the U.S. Senate has reportedly reached a tentative agreement that tie interest rates to the 10-year Treasury bond, thus resulting in a moderate increase in interest rates for students taking out their first loan this fall.
On July 1, interest rates for subsidized Stafford loans reverted from 3.4% to 6.8%. Given the desire to appease young voters (and their parents) and to not add considerably to the existing $1 trillion mountain of student loan debt in the U.S., lawmakers have been feeling the pressure to figure out a sensible long-term solution.

No comments: