Congressional inaction could cost college students

Source: Boston Globe Posted By: lalita S...4049 days ago

Congressional inaction could end up costing college students an extra $5,000 on their new loans.

The rate for subsidized Stafford loans is set to increase from 3.4 percent to 6.8 percent on July 1, just as millions of new college students start signing up for fall courses. The difference between the two rates adds up to $6 billion.

Just a year ago, lawmakers faced a similar deadline and dodged the rate increase amid the heated presidential campaign between President Barack Obama and Republican....

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