Congress is set to approve a student loan deal that will cut interest rates for 11 million student borrowers this year, saving each undergraduate an estimated $1,500 over the borrowing period. Critics of the bipartisan compromise, however, contend that the deal, which would link interest rates to the market, will keep rates too high and subject future borrowers to greater costs. Here is a closer look at what students can expect.
Even years after graduation, many American college graduates are left with heavy financial burden from cumulative student loans. A new report by the New York Federal Reserve underscores how college debt has taken an economic toll, causing young student loan borrowers refrain from auto and home purchases. Read more