Interest on Student Loan Debts Set to Double

From ThinkProgress:

Student loan interest rates are scheduled to double on July 1, from 3.4 percent to 6.8 percent. … Student debt is directly responsible for the feebleness of the housing recovery. College graduates saddled with debt and unable to find suitable wages have avoided buying houses and taking on mortgages, while others aren’t able to qualify for loans because of their excessive student debt.

 

Omar Usman

Omar Usman is a founding member of MuslimMatters, Qalam Institute, Muslim Strategic Initiative, and Debt Free Muslims. He is a regular khateeb and has served in different administrative capacities in various national and local Islamic organizations. You can follow him on Google+ or on Twitter @ibnabeeomar. Check out his latest project at Fiqh of Social Media.

2 Comments

  1. April 22, 2013

    Wa ‘alaykum salaam. Thanks for the notice. Do you have any recommendations on options we might have with the increase in interest rate?

    Reply

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