Stafford Loan Changes?

[Jlaw]

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How will the proposed stafford loan changes affect medical/graduate students? It could push the undergrad rate up to 6.8%+ which is what we pay. I heard that the grad loan would also increase, is this true?

 

[StilgarMD]

RELATED QUESTION

should we consolidate now to avoid this doubling?

 

[Jlaw]

RELATED QUESTION

should we consolidate now to avoid this doubling?

I can't imagine it would be done retroactively, but I havent researched it that much. Chances are Obama will stop it since its an election year but this increase will probably happen at some point.

 

[cincincyreds]

Is there such a thing as a law to prevent usary on student loans?

 

[DrMidlife]

Is there such a thing as a law to prevent usary on student loans?

It's usury, and 6.8% is hardly that.

 

[xenotype]

I have read that should the increase occur, it will not affect rates for graduate/professional students. I also don't think a rate increase will occur because private interest rates would be significantly lower than any increased federal rate, and people could simply choose those.