Snap Reactions to New Federal Student Loan Rates

by Lauren Rodrigue

STUDENT LOAN RATES SET TO DOUBLE ON JULY 1ST. The interest rate on government-backed student loans is going to jump from 3.4 percent to 6.8 percent Monday. — NPR, June 28, 2013

1. o no o no

2. i’m still behind by $150 worth of payments

3. just for fun whats 6.8 percent of 150 oh i don’t even know how to calculate that
like 12 bucks?
great there goes another pack of Sally Hansen nail decals

4. it really doesn’t seem very fair

5. these are supposed to be more affordable than private loans but my private loan is at 9% and 6.8 is not that far from 9

6. i can’t stop singing that sheena easton song “my baby takes the morrrrrrrnin train!”

7. if my entire government loan is $40,000 (hahah ugh fuck) whats 6.8 percent of that come on lauren you can do this

8. i honestly have no idea how to calculate what that would be

9. god i’m dumb i honestly hate math

10. “he works from 9 to 5 and then he takes another home again”

11. 40 thousand dollars times 6 point eight percent

12. is it 40,000 X 0.068?

13. i literally took AP calculus and fucking figured out the area of a curve on a plane, which DIDN’T EXIST, and i can’t figure out this shit?

14. oh is it only for new loans?

15. no i thought it was for all loans

16. oh ok great well forget it

17. “my baby takes the morning train”

Lauren Rodrigue lives in New York.

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