Student Loans Just Got More Expensive
Undergraduates taking out a new U.S. government loan will face nearly a 20 percent increase in interest charges.
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The U.S. government is raising prices for new student debt, adding hundreds of dollars to the cost of the typical federal college loan.
Beginning in July, interest rates on new government loans are set to rise by 0.69 percentage point, according to Wednesday figures from the Department of the Treasury. For undergraduates, that could amount to nearly a 20 percent increase in interest charges.