President To Sign Student Loan Deal Keeping Rates Low - WSPA.com

President To Sign Student Loan Deal Keeping Rates Low

Posted: Updated:
New bill to be signed by President Obama will keep student loans low. New bill to be signed by President Obama will keep student loans low.
WASHINGTON -

Students heading back to college this fall will save thousands in interest charges on their loans after they graduate once President Barack Obama signs into law a rare bipartisan compromise.

The president is scheduled to sign the deal Friday at the White House, ending a frenzied summer of negotiations to restore lower interest rates before millions of college students move back into the dorms.

About 11 million students this year are expected to have lower interest rates, the average undergraduate saving $1,500 on interest charges on this year's loans.

The legislation links student loan interest rates to the financial markets. It restores lower rates this fall but could yield higher costs if the economy improves in the years ahead.

Undergraduates this fall would borrow at a 3.9 percent interest rate.

Powered by WorldNow

250 International Dr.
Spartanburg, S.C. 29303

Telephone: 864.576.7777
Fax: 864.587.5430
Email: webmaster@wspa.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.