Students seek help on scheduled interest rate hike
April 4, 2012
A recent report from the National Association of Consumer Bankruptcy Attorneys (NACBA) revealed that college seniors who graduated with student loans in 2010 owed an average of $25,250. In addition, 81 percent of bankruptcy lawyers say they have witnessed the number of individuals with college loan debt increasing either "significantly" or "somewhat" over the past few years.
While paying college loan debt is already a challenge for some borrowers, the problem is expected to get even worse, as interest rates on subsidized Stafford student loans are scheduled to nearly double from 3.4 percent to 6.8 percent if Congress doesn't act by July 1.…