The current rate of 4.45% will rise to 5% for undergraduates. Congress sets a limit for student loan interest rates — 8.25% for undergraduate borrowers and 9.5% for graduate borrowers. Student loan debt accounts for the most consumer debt in the U.S. after mortgages, with about 43 million Americans currently owing almost $1.4 trillion. • Here’s what people are saying.
Excerpted from LinkedIn Daily Rundown, published May 21, 2018.