Contact Us

Student Loan Rates Could Double

Kevork Djansezian/Getty Images

WASHINGTON (AP) — College students’ interest rates are at the mercy of Congress.

The interest rates on subsidized Stafford loans doubled to 6.8 percent Monday and could stay there unless Congress fulfills its pledge to restore lower rates when it returns from the Fourth of July holiday.

Lawmakers from both parties, as well as the White House, vowed to lower that rate before students start signing loan documents this fall.

Efforts to keep interest rates from doubling on new subsidized Stafford loans fell apart last week amid partisan wrangling in the Senate. Each political party tried to blame the other for the hike.

If an agreement remains elusive, Congress’ Joint Economic Committee estimates the cost passed to students would be about $2,600.

More News from KGAB

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://kgab.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on KGAB 650AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on KGAB 650AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!