Friday, June 21, 2013

Congress inaction to double student loan rates (VIDEO)

Congress faces July 1 deadline on doubling interest rate on subsidized student loans and if it doesn't act, interest rates on new federally subsidized student loans will increase from 3.4% to 6.8% on July 1.

That means that low income students have no choice other than go to a college and do something themselves or to join Armed Forces and there is no bankruptcy protection for the loans, as Stef Gray, consumer advocate told RT.

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