Thursday, July 11, 2013

What is going on with your loans?

As you all may have heard, on July 1st the interest rate for subsidized federal loans doubled from 3.4 to 6.8 when Congress failed to reach an agreement regarding the rate change. According to NPR.org, if the Senate passes an agreement soon, it will not negatively affect those who receive their loans for the upcoming fall semester, only those that received them for the summer sessions.

To see the full article, visit http://www.npr.org/2013/07/09/200447019/congress-still-squabbling-over-student-loan-rate-increase

In the article, NPR.org provides a chart with a breakdown of what could happen to your subsidized federal loans;

Are these changes affecting your finances for the fall? Sound off with your concerns in the comment section.

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