June 30, 2000
Many Students Are in the Dark on Pending Interest-Rate Change
Borrowers could profit from refinancing their loans, but many were notified too late
The interest rate on student loans is about to increase by 1.25 percentage points, but most borrowers appear not to know it.
Take Monica Turcich, a graduate student in museum studies at George Washington University. She says she has not heard a peep about the impending rate rise from her lender, Sallie Mae, or from the university's financial-aid office. As an
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