Jonny Wakefield

UBC warns American students of possible student loan rate increase

By Jonny Wakefield The email urged students to contact their Congressional reps about the issue VANCOUVER (CUP) — American students may have been surprised to see the name Barack Obama in an email from UBC. Late last month, UBC sent a broadcast email to U.S. students informing them that interest rates on their government loans could double without congressional action. “The 2007 College Cost Reduction and Access Act, which capped interest rates of subsidized U.S. loans at 3.4 per cent, is set to expire on June 30, 2012,” wrote Jonathan McCauley, UBC’s manager of student services and policy, in the…

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