Student loan rates double
Subsidized Stafford loans, which account for roughly a quarter of all direct federal borrowing, went from 3.4 percent interest to 6.8 percent interest on Monday, the Fort Worth Star-Telegram reported. Congress’ Joint Economic Committee estimated the cost passed to students would be about $2,600. Julian Askew, a political science major at UT Arlington, said he believes he could face about $10,000 to $15,000 in loan debt when he graduates. Students only borrow money for one year at a time, officials said. Loans taken before Monday are not affected by the rate hike. A similar story in The Washington Post said it is unclear whether Congress will allow the increase to stand before the new school year gets under way.
Athletic teams switch conferences
College athletic teams officially realigned yesterday, The Associated Press reported in Philly.com, Mississippi News Now, Newsday, the San Francisco Chronicle and many other media outlets. UT Arlington joined Texas State and Georgia State as new Sun Belt Conference members. UT Arlington had been in the Western Athletic Conference.