19
Jul

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Interest on student loans will double in less than a month

Individuals, News, Taxes

Clients still paying off student loans will have a new financial calculation to take into account — the interest rate on federally subsidized college loans will double in less than a month unless Congress takes action. The rate will rise to 6.8% from 3.4%. The Congressional Budget Office estimates it will cost the U.S. $6 billion to extend the rate for a year.

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