Federal student loan interest rates to double
Posted: Jun 28, 2013 10:37 PM EDT | Updated: Nov 6, 2014 3:09 AM EDT
Interest rates for federal student loans are set to double.
Congress couldn't reach a deal to keep Stafford loan interest rates in place before their holiday break at the beginning of July.
Republicans and democrats are blaming each other.
The increase will kick in Monday. A congressional report says the high interest rates will add over $4,000 to the cost of a four-year degree.