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.