College Loan Interest Rate Set to Increase July 1
WYTV – Hundreds of thousands of college graduates across the state soon could be forced to pay more in college loans, unless an act of Congress blocks the interest rate from doubling.
The average Ohio student graduates from a four-year college or university with nearly $27,000 in debt.
The current interest rate for federally-subsidized Stafford loans is 3.4 percent. A scheduled hike to 6.8 percent is set to take effect on July 1.