QUICK LINKS:

Student loan rates on the rise

Created: 07/07/2014 6:43 AM WHEC.com

If you know a student starting college this fall, many of them will end up paying more to pay back their student loans.

At the start of the month, student loan rates rose from 4-percent to 4.5-percent. That translates to about $4 more a month for graduates over the course of 10 years.

A new federal law means that loan rates will continue to rise for new borrowers every July 1 with rates rising even higher for graduate students.

Right now, the average student leaves college $29,000 in debt after earning a bachelor's degree.
 





News10NBC/WHEC-TV welcomes your opinion and interaction on our website, but please remember to keep it clean. If you're advertising for another business, being profane, vulgar or slanderous your post will be deleted. By commenting on this website, you agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use. Comments are not pre-screened before they posted.

Flood Warning

NY AREAS AFFECTED: Erie; Wyoming
Expires: 11/25/2014 1:22 AM

Flood Warning

NY AREAS AFFECTED: Erie; Wyoming
Expires: 11/25/2014 4:32 AM

Flood Warning

NY AREAS AFFECTED: Erie; Genesee
Expires: 11/26/2014 1:00 AM

Flood Warning

NY AREAS AFFECTED: Cattaraugus; Chautauqua; Erie; Genesee; Wyoming
Expires: 11/24/2014 4:15 PM

High Wind Watch

NY AREAS AFFECTED: Genesee; Monroe; Niagara; Northern Erie; Orleans; Wyoming
Expires: 11/25/2014 12:00 AM

Rochester

Overcast
50°
52° | 34°
  • Feels like: 50° F
  • Wind: SW 14mph
  • Humidity: 63%
  • Mon Plenty of sun
    61° | 46°
  • Tue Windy with clouds
    46° | 37°
  • Wed Mostly cloudy
    37° | 30°
  • Thu Cloudy
    35° | 28°