Alabama college students will now have to pay $2,000 to $2,500 more in college loans.
Students and graduates will be pushed deeper into debt as interest rates on Stafford loans rise from 5.3 percent to 7.14 percent on old loans and to 6.8 percent on new loans.
Parents who take out plus loans to help their children pay for an undergraduate education also face rising interest rates.
On Saturday, rates on plus loans increased from 6.1 percent to nearly 8 percent for existing loans and 8.5 percent for new loans.
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