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Key U.S. Student Loan Rate Doubles

HeadlineJul 02, 2013

The interest rate for federally subsidized student loans has doubled after Congress failed to reach a deal to avoid the hike. The interest rate on Stafford loans rose to 6.8 percent Monday when a temporary freeze expired. Lawmakers will still have a chance to reach a deal on student debt before the next school year. Student loan debt in the United States stands at nearly $1 trillion after roughly quadrupling over the past decade.

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