College students should act quickly to avoid paying double the current student loan interest rates.
Undergraduate subsidized student loan rates are set to hike from 3.4% to 6.8% this summer, unless legislators rush to intervene.
By enrolling in traditional or online degree programs now, students could save thousands of dollars in interest over time.
The U.S. Department of Education released the following statement on February 13th, 2012, regarding this issue:
Following up on the President’s State of the Union Address, the Department is proposing to freeze the interest rate on subsidized student loans at 3.4% — instead of allowing it to double to 8.4% this summer — and make the American Opportunity Tax Credit permanent. The AOTC provides taxpayers up to $10,000 over four years to cover expenses like tuition, fees, and textbook costs.
Although the proposed freeze could be implemented, it is also possible that interest rates on undergraduate student loans could rise to equal the rates on graduate student loans, which is 6.8%.
Popular online classes in business, computer science, health care, criminal justice, engineering, education, and information technology are among the thousands in which motivated learners are enrolled in order to propel them toward the jobs of the future.
In order to afford a college education, millions of students take out low-interest student loans, which are often just one part of their financial aid package. They may also receive grants, scholarships, or work study, depending upon eligibility.
Military students and veterans may receive military education benefits that cover all or most college expenses.
But the clock is ticking.
So enroll now in college classes and enjoy current student loan interest rates that are almost too low to believe.
Popularity: 5% [?]