Why the cost of your student loans just went up

If you've got student loans, the interest rates took a big jump today, July 1.  Sure interest rates have been going up, but this is politics.  The same Republican Congress which tried its hardest to completely eliminate the estate tax for those worth over $2 million instead tried to cut the size of the budget deficits through cuts in other programs, e.g., student loans.  The result, your interest rates go up.  However, if you parlay your student loans into multi-millionaire status, rest well, the Republican Party is looking out for you.

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