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College Loan Interest Rates Not to Double

Posted: Friday, July 6th, 2012 at 6:23 am
Author: KCII News - Bill Gatchel

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Congress passed legislation recently to avoid interest rates on student loans from doubling.  This comes as welcome news to many college students who are seeing high amounts of debt upon graduation.

Kirkwood Washington Center Director Tera Pickens says while the national average amount of debt graduating students have is $25,000, here in Iowa, the amounts range from $28,000 to $30,000 at larger universities.  For community colleges and at Kirkwood, the average amount is $13,700.

She says this legislation passing should be a reminder to all colleges that they should be held accountable when it comes to the amount of tuition charged as it affects student’s abilities to pay for that tuition.  Pickens notes she deals with the topic of student loans on an every day basis.