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Area effects of doubling the student loan interest rate

By: Bret Lemoine
Updated: May 11, 2012
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(WFRV)- Interest rates on federal, subsidized student loans are set to double in July, unless Congress acts quickly. Some insist the move is strictly a power-play.

 

The average student will pay an extra $6 a month and that's only for loans borrowed during the 2012-2013 school year.

 

At UW-Oshkosh, financial aid directors say any increase is still a burden for students,  but explains rates were never supposed to say at the current level of 3.4%.

 

The average student leaves UW-Oshkosh $29,000 in loan debt.

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