One report caught my attention with details I hadn't heard anywhere else. Of course, only FOX news on here at the homestead, so details aren't exactly a specialty. It has to do with the student loan legislation just passed.
Sure, the interest rates will not double. This saves student borrowers about $1,000 a year. No chump change, for sure. But here's what else the bill did:
- Interest on graduate student loans will have to be paid while still in school
- Eliminated six month grace period to start repayment of all loans
- Limited number of semesters needy students can get Pell Grants
- Made it harder to qualify for the maximum award