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Student Loan Interest Rate Hike for Dummies

It’s not easy understanding all the politics behind the 6.8 percent interest rate hike for all new subsidized Stafford Loans, but here’s a before and after version for dummies that explains the math, including the original loan amount, monthly payments, total interest and total loan repayment.

Infogram on student loan interest rates for dummies

Bill “No Pay” Fay has lived a meager financial existence his entire life. He started writing/bragging about it in 2012, helping birth Debt.org into existence as the site’s original “Frugal Man.” Prior to that, he spent more than 30 years covering the high finance world of college and professional sports for major publications, including the Associated Press, New York Times and Sports Illustrated. His interest in sports has waned some, but he is as passionate as ever about not reaching for his wallet. Bill can be reached at [email protected].

Student loan interest hike for dummies

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