Wall Street News

Wall Street News

You can scroll the shelf using and keys

Student Loan Rate Set to Rise, Despite Lack of Support

Summary:

  • The interest rate on many student loans is scheduled to double on July 1, to 6.8 percent from 3.4 percent
  •  Federal government makes 36 cents in profit on every student-loan dollar it puts out, and estimates that over all, student loans will bring in $34 billion next year.
  • Last April, in his re-election campaign, President Obama made a central issue of stopping the Stafford interest rate increase.
  • Now that the lower rate is about to expire, there is general agreement that it should not double. But a solution is unclear.
Advertisements

April 10, 2013

What do you think?

Please keep your comments polite and on-topic.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: