Students borrowing from the federal government this fall will face the highest interest rate in more than a decade
Students borrowing from the federal government this fall will face the highest interest rate in more than a decade
While the rate level is set by a pre-determined formula, the Obama administration was able to retroactively reset interest rates through a bipartisan effort in 2013.
![Students borrowing from the federal government this fall will face the highest interest rate in more than a decade](https://lemmy.world/pictrs/image/d6f3ca80-1f0e-4007-9679-b0ebcec1f05e.jpeg?format=webp&thumbnail=256)
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6.3% for undergrads, which is the same as I had some 15-20 years ago.
14 1 ReplyExcept now inflation is higher, so, effectively the rate is smaller.
11 1 ReplyThat's only really true if your salary would grow at the rate of inflation. Which is definitely not the case.
1 0 ReplyWe will see, but so far the income per person grows quite steady adjusted for inflation if one removes random fluctuations over time: https://united-states.reaproject.org/analysis/comparative-trends-analysis/per_capita_personal_income/tools/0/0/
1 0 Reply