The interest rate on government provided student loans is set to raise from 3.4% to a whopping 6.8%. According to NPR, “Republicans, Democrats and the Obama administration could not agree on a plan to keep it from happening. Lawmakers say a deal is still possible after the July 4 recess. But if they don’t agree on a plan soon, 7 million students expected to take out new Stafford loans could be stuck with a much bigger bill when they start paying the money back.”
This is a major issue. Hopefully the administration can get its shit together because this far from the solution Obama has alluded to in many, many speeches. The more we make education inaccessible the less this country has any hope of a real future. Read the rest of the article here.
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