Congress Reaches Tentative Agreement in Student Loan Interest Rates Doubling
By: Vi Nguyen
Updated: June 28, 2012
June 27, 2012 (ROCKFORD) House and senate leaders agreed to a one-year extension. The move will keep the subsidized Stafford loan interest rates at 3.4%. Preventing a jump to 6.8%.
The doubling rate would have affected nearly 7 million undergraduate student borrowers starting in July 2012.
The extension will save student borrowers thousands of dollars, but experts say, this action only buys time for leaders to hammer out a deal.
The doubling rate would have affected nearly 7 million undergraduate student borrowers starting in July 2012.
The extension will save student borrowers thousands of dollars, but experts say, this action only buys time for leaders to hammer out a deal.
