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Education: Loan interest rates couuld double

8:34 AM, Apr 11, 2013   |    comments
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CLEVELAND -- Attention cash-strapped college students and parents: Prepare yourselves, because college loan interest rates could double!

Stafford Loans, which are federally subsidized, could see interest rates double from 3.4 percent to 6.8 percent July 1.

That is a big concern to college students, who hope Congress intervenes.

"It's already hard enough to pay for college, and this just adds more stress," says CSU Freshman Kayla Kearney.

If Congress does not allow rates to go up, it could cost $6 billion.

WKYC-TV

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