student loan for junior college
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Time running out for cheaper student loans
ALLENDALE -- From tough professors to bad roommates, college can be tough. For many students, paying for tuition is another major challenge.
"College loans are a nightmare," says Grand Valley State University junior Kacie Babcock.
And it's not getting any easier.
College students across the country have learned the cost of a federal school loan is about to go up.Beginning Saturday, the federal government will switch from charging a variable interest rate, currently 4.7 percent, to a fixed rate of 6.8 percent.
"I've got about $10,000 in loans," adds Babcock, who is majoring in social work and psychology.
While her principal won't change, some of the interest Kacie Babcock has to pay on the loan will, come this Saturday.
More student loan for junior college info
Rising cost of college a big obstacle
Emily Miller isn't broke - her parents help her pay for community college, so she didn't have to take out student loans.
But the Ellisville native still works up to 60 hours per week to make ends meet on top of a full-time class schedule at Jones County Junior College.
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