Attending college just got even more expensive.
Forbes reports federal student loan interest rates are expected to rise next fall by 0.8 percent. This is because the United States treasury sold "$24 billion in 10-year notes at a yield of 2.61 percent," which is 0.8 percent higher than 2013's 1.81 percent yield.
This increase affects Stafford loans for undergraduate students, as well as direct unsubsidized loans for graduate students.
For Stafford loans, the interest rate will increase to 4.66 percent for loans disbursed July 1, 2014 until June 30, 2015.
For direct unsubsidized loans, interest rates will increase to 6.21 percent for loans disbursed starting July 1.
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