House Approves Lower Rates On Student Loans

By: AP
By: AP

A bill that would lower the cost of student loans has passed the House and is heading to President Barack Obama for his signature.

The House on Wednesday gave final congressional approval to a bipartisan measure that links student loan interest rates to the financial markets. Most students would see lower interest rates in time for classes this fall.

Undergraduates this fall would borrow at a 3.9 percent interest rate for subsidized and unsubsidized loans. Graduate students would have access to loans at 5.4 percent, and parents would borrow at 6.4 percent. The rates would be locked in for that year's loan, but each year's loan could be more expensive than the last. Rates would rise as the economy picks up.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 217836941 - kktv.com/a?a=217836941
Gray Television, Inc.