According to a report in the Washington Post, President Barack Obama is touring college campuses in an effort for support in order to seek a Congressional extension of lower interest rates for Stafford student loans. If Congress doesn’t act prior to July 1, Stafford student loan rates will double, to 6.8 percent. It’s estimated that this will tack on about $1,000 to the average student’s debt.
Student loan debt collection has been making headlines recently. If you go onto just about any online publication, you will see a new report on student loan debt.