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Student interest rates face impending changes, Congress offers proposals

Each day brings finals week one step closer and, as the end of the year nears, deadlines are the top thought on students’ minds. On a national level, another deadline looms: On July 1, 2013, the interest rates for subsidized student loans are set to double from 3.4 to 6.8 …

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Next year’s loans could cost students an extra $5,000

Taking out loans next year may cost students an additional $5,000 as interest rates are scheduled to double, according to reports by the Associated Press and Huffington Post. Starting July 1, interest rates for subsidized Stafford loans are scheduled to rise from the current 3.4 percent to 6.8 percent if …

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Arts & CultureNews

Changes to new student loans to cost students $20 billion

With undergraduates facing a loss of the six-month interest-free grace period after graduating and graduate and professional students losing access to subsidized loans, higher education is set to become even more expensive.






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NewsUncategorized

Student loan debt will not double on July 1

The United States House of Representatives passed a bill Friday that will extend the current interest rate of federally subsidized loans (3.4 percent) beyond when it was set to expire on July 1. According to Associated Press reporting, congressional groups agreed to a deal earlier this week for a $6 …

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ArchivesNews

Senator Ron Wyden engages students in discussion of student debt

“When I was coming up education was a big investment, but not as big as it is today,” Wyden said. “Your college education, for all you young people, is the second-biggest investment you’re going to make in your entire life, other than buying a house.”






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Cost-cutting measures may not be best for money-conscious students

At a time when there is nearly $1 trillion in national student debt and tuition rates continue to rise, students are looking for ways to cut costs and avoid taking out too many student loans. And although there are many ways for students to approach this issue, some researchers say that engaging in these types of cost saving behaviors — either out of necessity or by choice — may be counterproductive and actually inhibit students from obtaining a college degree.






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Obama administration to lower student loan payments for millions of students, borrowers

Frustrated with the lack of progress from Senate Republicans, the Obama administration announced a new proposal Tuesday that will increase the affordability of higher education. The proposal will make it easier for more than 1.5 million current college students and borrowers to manage loan debt.






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