Student Loan Interest Rates
On June 29, 2012, students got a one-year reprieve from the doubling of interest rates on federally subsidized student loans. Had Congress not acted, rates would have increased from 3.4 percent to 6.8 percent on July 1, 2012. Now, with the year-long delay coming to an end, the interest rate is again scheduled to double on July 1. In anticipation of the increase, the White House and Members of Congress are proposing ways to avert another showdown on the issue. The President’s proposed Budget for Fiscal Year 2014, presented to Congress on April 10, would move student loan interest rates away…
