Interest rates on new subsidized Stafford student loan will double to 6.8 percent if Congress doesn’t extend the cap on interest that makes education more affordable, according to a recent Consumers Union report.
The current percentage rate for subsidized loans is at 3.4 percent with more than 7.4 million borrowers facing interest rate hikes if Congress does not extent the cap.
Experts from the Consumers Union, the policy and advocacy branch of Consumer Reports, estimate student
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