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Student interest rates to double if Congress doesn't find Federal loan solution

Higher loan rates could cost students up to $5,000 more.
Syracuse (WSYR-TV) – Congress has only one week left to address student loan interest rates for students taking out new subsidized Stafford loans.

The interest rate for need-based or Stafford loans, is currently fixed at 3.4 percent.

If Congress does not act to extend that rate by July 1, it is scheduled to double.

Higher rates could cost students up to $5,000 more.


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