On July 1st, subsidized student loan interest rates are set to double, from 3.4 percent to 6.8 percent. So far the House has passed a bill which would address the issue, and tie the rates to the Treasury’s borrowing rates. The Senate so far has not passed a bill. See the latest developments in the article below:

If Congress does not come up with an agreement on this, the millions of students already having problems paying their loans, and struggling to find work, will have more difficult times ahead.

This could prompt the student loan bubble to burst even quicker, and could slow any recovery for the country. Keep your eye on this legislation as we approach the deadline.

Daniel J. Winter
BankruptcyLawChicago.com
djw@DWinterLaw.com
312-789-9999

Offices in Chicago Loop, Gurnee, Oak Lawn, Skokie, and Waukegan, Illinois.