Black College Students Will See Interest Rate for Subsidized Stafford Loans Double in July

A dangerous consequence of last year’s federal budget will begin July 1, 2012, and will have a devastating impact on African Americans who need the assistance of loans to attend college. Last year, when congress was trying to find ways to reduce the federal budget during the debt-ceiling debate, they left interest rates poised to increase July 1 for all government student loans. This means that nearly eight million students nationwide who rely on subsidized loans to cover college costs would see the interest rate double from the current 3.4 percent to 6.8 percent as of July 1, if there is no change made to address this by Congress soon.

Read more about:

Also read

Kevin Hart
Kevin Hart gives Spelman students tips on becoming financially literate
Untitled-2
Shavonna Perkins helps Christian women achieve financial freedom
DerekFerguson
Vibranium's Derek Ferguson says don't get duped when investing
AshCash
Ash Cash encourages people to invest their hard-earned dollars
LaToya Rowell
Comerica community affairs VP LaToya Rowell is focused on financial education
Christianna Hurt
Social media influencer Christianna Hurt is helping college kids with finances

Watch this video

What's new

yung miami
Host of 'Caresha Please' makes puzzling comment about Oprah
MaisieBrown
Jackson activist Maisie Brown says city still needs clean water
Kanye West
Kanye West's strange attempt to make peace with Kris Jenner