Green Country college students face increasing federal loan rates

TULSA - Student loan rates are set to double Monday due to Congress unable to pass legislation that would keep the interest rates at 3.4 percent.

The interest rates are set to go up to 6.8 percent July 1.

Green Country families say the news of doubling interest rates is troubling.

"It's just going to be more. We're going to have to tighten the budget," Oklahoma State University parent Rosemary Karlish said.

OSU student Katherine Karlish, who studies biology at the university, says increasing interest rates will make it harder to pay down her growing debt.

"I even took a second job just to help pay for school and just knowing even that amount won't really amount to anything. just knowing how much interest rates are going up. That's a bummer," Katherine Karlish said.

Although Green Country parents say the new loan rates will be tough to swallow, they say it's necessary for kids who want to get a good job after college.

"It just is what it is. I don't know how were going to get around it," Rosemary said.

Students say they are looking for other options to fund school so they don't go deeper into debt.

"I've been applying for scholarships as much as I seen around campus, " Katherine Karlish said.

 

 

 

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