A former Western Michigan University student has been charged with making threats last year about a campus shooting.get more >>
A former Western Michigan University student has been charged with making threats last year about a campus shooting. get more >>
LANSING, Mich. (WLNS)- Students heading to class this fall now face hefty interest rates, if they plan on taking out certain subsidized student loans.
Senator Stabenow, who sponsored a bill in hopes of stopping student interest rates from doubling says, "this is an area where our government should not be making a profit off of the backs of students. Period".
Time's up for congress, but it's students feeling the burn.
MSU senior Nick Farris said "anything I earn will have to go back towards paying off loans...I already work full time as a student and even so it won't be enough".
Farris, like seven and a half million students across the country, woke up to find out student loan interest rates doubled after congress failed to reach a deal.
Now, with subsidized stafford student loan rates reaching 6.8%, the average student stands to tack on an extra $2,600 to their loan.
The increase plans to make 51 billion dollars off students, just this year.
Tuition hikes throughout the state average three and a half percent, with MSU standing nearly two percent higher than they were last year. Tag on room and board and books and students are left buried in debt.