COLLEGE TUITION

Wait til Obama gets involved! He’ll probably just pay them off.
Check it out:


Interest rates on student loans are set to double on Monday after lawmakers failed to find a bipartisan solution to keep the federally subsidized borrowing costs down.

The Senate adjourned Thursday night for the July 4 recess without approving a student loan rate package.

With the current, 3.4 percent interest rate on Stafford loans — the most popular funding for college students – set to expire on July 1, a host of 11th-hour fixes all failed to generate support from both sides of the aisle. Without new legislation — either to extend the cap, set a new one or find another way to peg the loans – the cap rises to 6.8 percent. Congress could always forge a solution in the following days, even lowering rates retroactively.

The higher rates would add about $3,000 to the total interest on a $23,000 student loan repaid over 10 years.

GET MORE STORIES LIKE THIS

IN YOUR INBOX!

Sign up for our daily email and get the stories everyone is talking about.

Email
Previous post

Communists Behind Islamic Terrorism?

Next post

Immigration bill faces uncertain future in House after clearing Senate