Student loan interest rates will be at a decade-high as the Department of Education released its rates for 2024 to 2025, raising it 6.53%. To talk about the financial impact this will have on students seeking to attend college, Scholly By Sallie FounderKantrowitz says overall it's"not a huge increase," while Gray touches upon the importance of scholarships and free money qualifications for prospective college students.
But, you know, I think that people should really look at free money first because, I mean, the interest rates, I mean, it's, it's increasing and I think it's gonna hit a lot of underserved communities even harder than most.I mean, uh, mark, there was, there was an absolute FAFSA debacle even before some of the deadlines this year as we're thinking about the number of students who are looking out to next year and trying to get ahead of their college selection process.
I mean, you're trying to do something for, I mean, you know, all, all American over 44 million bars and things like that. So I think they're really going to make it an effort to learn from this streamline it and I think ultimately, once it's done, it'll be, I mean, the fast food is going much easier than ever mark when we, when we talk about the college experience that it's, it's a return on investment calculation that a lot of families and individual students calculates to understand what the return on their degree is going to look like.
But if they drop out of college, they are four times more likely to fall on their student loans, uh and they'll struggle to repay their student loans.So if they choose AAA major and maybe focus on one that can help you pay the bills after you graduate.
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