Today Student Loan Rates Double on Michigan Students

 

 

According to the Center for American Progress, the impact in Michigan is widespread. [Center for American Progress, 6/04/13]

Michigan Facts on Student Loan Rates Doubling:

284,937 students borrow Stafford Loans

62 percent of Michigan college graduates are in debt

The average borrower is $24,450 dollars in debt

11.8 percent of borrowers are more than 90 days delinquent

If student loan rates were unchanged, the average savings per borrower would be $915 dollars.
 

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