Student Loan Interest Rate Set to Rise

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The current student loan debt totals $1 trillion. It's the biggest worry among college-bound high school students, according to a recent Princeton Review Survey. They may have even more to worry about starting July 1, when the interest rate for subsidized student loans jumps to nearly 7 percent, unless Congress acts. Is there a better plan for students to manage, or even lower, their overall debt? We talk to experts about options for dealing with student loans.


George Miller, congressman representing the 11th District of California in the East Bay, and senior Democrat of the House Education and Workforce Committee

Jason Delisle, director of the Federal Education Budget Project at the New America Foundation

Nancy Coolidge, coordinator for federal and state programs, student financial support at the Office of the President, University of California

Mike Cagney, co-founder, CEO, and chairman for SoFi, a group which connects students and alumni through a social community lending pool