June 12, 2013
Today, the Congressional Budget Office (CBO) released a report on the impacts and costs of the student loan interest rate going from 3.4 to 6.8 percent. The CBO analyzes the impact to Direct (subsidized and unsubsidized) and PLUS loans. The report also broadly touches on the impacts to students and the nation if student loans have an adjustable interest rate.
A copy of the CBO report can be found here.
The CBO is a nonpartisan agency created to produce independent analyses of budgetary and economic issues to support the Congressional budget process.
The Office of Federal Relations is continuing to monitor this issue and will provide updates as available.