Student loan increases are not welcomed at all. While students struggle to pay for existing loans the idea of future loan hikes discourages people from furthering their education. The chairman of the Education and Workforce Committee outlined the deal that would let a college students avoid student loan hikes. Rep. John Kline, R-Minn., told The Associated Press that his GOP-led panel would support an idea included in Obama’s budget proposal that links the interest rates on student loans to market rates.
Rep. John Kline, R-Minn proposal will end interest rates for subsidized and unsubsidized undergraduate loans. Federally subsidized Stafford student loan rates will double on July 1, unless Congress steps in.
Picture by Marich Terz