In talking about student loan debt, we can not ignore the fact that under current Federal law beginning on July 1, 2012 the interest rate for all Subsidized Stafford loans will increase from 3.4% fixed to 6.8% fixed. And, the grace period for this loan will no longer be interest free. Interest for the Subsidized Stafford loan will begin accruing from the date of departure. Students will still be given a 6 month grace period before payment arrangements are required, but the interest free terms have changed to interest baring.
As we all know, this change is significant and will impact the lives of many students. In an effort to help motivate Congress from implementing such a drastic change, we would like to share information from COE, Council for Opportunity in Education which has been serving TRIO students for more than 30 years.
COE had reached out to several schools promoting their partner, Campus Project and the Common Purpose Project to provide a forum for students to share their stories and provide feedback on the increase. Several progressive coalitions are doing the same student outreach. Those wanting to assist may discuss three main points which are as follows:
To view an interactive description of the interest rate change you may visit:
http://www.whitehouse.gov/
-Savvy Student
No comments:
Post a Comment