David Lerner Associates: Legislation Rolls Back Student Loan Interest Rates
In late July, Congress passed legislation to roll back the increase in student loan interest rates that took effect earlier in the month. This legislation ties student loan interest rates to the financial markets, instead of allowing Congress to set these rates, as they have in the past. On August 9, 2013, President Obama signed the bill into law.
David Lerner Associates: How Interest Rate Hikes Affect Your Financial Well-Being
For the first time in nearly a decade, the Federal Reserve announced an interest rate increase - from zero percent to .25 percent immediately with more increases to come in 2016. That quarter percent might seem insignificant, but it is going to impact your finances.