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HNM - BOTB 2013

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AFRICAN AMERICAN STUDENTS

1.5 MILLION AFRICAN AMERICAN STUDENTS TO BE IMPACTED BY DOUBLING OF FEDERAL STUDENT LOAN INTEREST RATE

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Interest rates on new subsidized Stafford student loans for undergraduates are scheduled to double on July 1, from 3.4 percent to 6.8 percent. Unless Congress acts to stop the increase, more than 7 million students around the country—approximately 1.5 million African American students—would see their student loan debt increase. If the interest rate doubles, the estimated average i