Proposed interest rate increases would only apply to loans issued after July 1
May 5, 2012 at 12:05 a.m.
Only students who take out new subsidized loans after July 1 would be affected if proposed interest rate increases went into effect, Kim Obsta, Victoria College's director of financial aid, said in an email.
Existing loans would maintain their original rates.
Victoria College awarded subsidized student loans to about 700 students during the 2011-12 academic year, Obsta wrote.
She advised people to borrow money with caution and to keep track of the amount borrowed.
"Students sometimes only think in terms of what they are applying for each school year," she wrote. "Keep track of your student loan debt by reviewing your loans and terms at www.nslds.ed.gov."
For more information on the loan process, visit www.StudentLoans.gov.