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Federal student loan interest rates are increasing

Should current and incoming college students be concerned?

Posted: Jul 6, 2021 3:37 PM

Lafayette, La (KADN) "But as of right now I did not know that FAFSA rates were increasing"

The fall semester is right around the corner and a lot of college students say they use loans to pay for tuition and fees but weren't aware of a potential increase.

"With the interest rates going up I think since we are seniors that were kinda grandfathered in and for it to go up when were like pretty much towards the end it is kind of confusing"

Students planning to borrow federal student loans for the upcoming school year can expect an increase in interest rates.

"So I actually qualified for tops with my act score and everything so I got my tuition paid for and then for the rest of my fees I'm using student loans"

This change comes after existing loans were set at zero as part of the coronavirus relief. interest rates are expected to be more than 3.7% for undergraduates and many say they should've been made aware of this change by their university before the start of the semester.

"I think for like informing the students like an email or on social media because I know a lot of students don't check their email regularly Facebook, Twitter those are like a lot of things that I see students receiving main information from"

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