On July 1st, the interest rate on subsidized Stafford loans doubled, from 3.4% to 6.8%. Without quick corrective action from Congress, this will significantly raise the interest rate on loans for as many as five million college students. But what are Stafford Loans? And why should clinicians care? What are Stafford Loans? Stafford loans are a critical part of the financial aid offered by the federal government to college students. There are two kinds of Stafford loans: Subsidized … [Read more...]