Student Loan Deal Doesn’t Guarantee Long-Term Relief

July 18, 2013 9:15 PM
Student Loan Deal Doesn’t Guarantee Long-Term Relief
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" BOSTON (CBS) — A deal is at hand on Capitol Hill to roll back the doubling of rates on popular Stafford Loans that kicked in on July 1st.

But the deal doesn’t guarantee long-term relief for borrowers.

An undergrad taking out a Stafford Loan today would pay less than 4-percent interest, well under the current 6.9-percent rate.

But if the 10-year treasury note interest rate rises, that same loan could cost future borrowers up to eight-and-a-quarter-percent.

That didn’t go down well on the campus of UMass Boston "

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