Unless politicians compromise, new government-backed student loans will carry 6.8 percent interest rates - up from the 3.4 percent enjoyed by families since 2007. What does it all mean?
The Lifehacker site has a post by Eric Ravenscraft that helps sort out the current debate over the interest rate students will pay on new federally subsidized college loans, the so-called Stafford loans. Even if the rate goes up, Stafford loans will remain the bargain loan for students, Ravenscraft notes.
A "paying for college" page at the site of the Consumer Financial Protection Bureau has a video about how student debt became a $1 trillion issue in the United States. The bureau, a watchdog for consumers, provides an outline of steps that students and their families should take to, at the very least, know what they are getting into when they borrow for college. The page starts with a simple timeline of links to guide students from applying for college to repaying their debts after graduation.