Lafayette, Louisiana (KADN) “But at this point I didn’t know that FAFSA rates were going up.”
The fall semester is just around the corner and many college students say they are using loans to pay tuition and fees, but were unaware of the potential increase.
“I think with the rise in interest rates, since we are older people who were sort of a grandfather, and their growth when they were pretty much closer to the end, it’s a little confusing.”
Students planning to take out federal student loans for the upcoming academic year can expect to see interest rates rise.
“So I actually qualified to the top with my score and everything, so I got paid for the tuition and then I use the student loans for the rest of the fee.”
The change came after existing loans were reset to zero in the fight against coronavirus. Interest rates for students are expected to be higher than 3.7%, and many say they should have found out about this change at their university before the start of the semester.
“I think this is similar to informing students via email or social media, because I know that many students don’t check their emails regularly. Facebook, Twitter are like many things from which I see that students get basic information. “