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New student loans will have higher rates for now

Published On: Jun 26 2013 08:00:00 PM EDT   Updated On: Aug 01 2013 05:37:54 PM EDT

As of now, the interest rate on the government subsidized portion of the loan is at three-point-four percent if you borrow the maximum amount. Because the Senate could not make a deal, the rate will now go to 6.8 percent.