Click here for local radar

Student Loan Rates Increasing for College Students

U.S. Senator Richard Durbin will be back in the Quad Cities on Friday, May 9, 2014.

Friday, Senator Durbin will push for a bill that would allow 2014-2015 college students to pay federal loans at the 2013-2014 level. Student loans will be increasing for college students again during the 2014-2015 school year.

On Wednesday, May 7, 2014, the U.S. Treasury announced that the federal Stafford loan would go from about 3.9% to 4.7% in 2014-2015. That is about a one percent increase. The increased rates will not affect Americans who have already graduated. Congress approved the 3.9% level for college students in the summer of 2013.

Senator Durbin will be on the campus of Augustana College Friday. He'll be joined by Augie President Steven Bahls.

Filed in: Education, News

Suggest a correction

Get every new post delivered to your Inbox.

Join 2,433 other followers