Student Loans Set to Increase July 1
There are two new bills in Congress that affect student loans, with ramifications for parents as well as students who are using federally funded student loans to pay for college. H.R. 1911, the Smarter Solutions for Students Act, sponsored by Rep. John Kline (Republican from MN), was passed by the House of June 3, 2013. S.B 682, the Student Loan Fairness Act is still pending in the Senate. Both Bills have implications regarding the rate of interest of students loans that are set to hike on July 1, 2013. US News and World Report Education section offers an explanation of the new student loan proposals.