Interest Rates on Student Loans Are Expected to Drop Soon
A commencement ceremony in Washington, DC .
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In a rare bit of good news for students facing hefty college bills, interest rates on federal student loans are expected to head lower soon.
Rates on U.S. student loans are on track to drop by half a percentage point for the upcoming academic year when they are reset in July. As tuition prices escalate, borrowers have racked up $1.2 trillion in student debt, mostly in federal loans.