What Happens In Washington If Student Loan Interest Rates Rise?
The interest rate on many student loans is scheduled to double on July 1, to 6.8 percent from 3.4 percent. That was expected to happen last year, but Congress voted to extend the lower rate. If the student loan interest rate does increase it will be way above loans for cars or even homes. Ross Reynolds talks with The Chronicle of Higher Education's chief Washington reporter, Kelly Field about the potential impacts of rising student loan interest rates.