Pending Student Loan Interest Rate Hike Frustrates UC Berkeley Students

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UC Berkeley

The campus at University of California at Berkeley. (CBS)

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BERKELEY (KCBS)— The student loan interest rate is scheduled to jump from 3.4 percent to 6.8 percent July 1st, if Congress does not act. The possibility of doubling the interest on subsidized Stafford loans is frustrating some already debt-burdened students.

University of California at Berkeley optometry student Sandra Koo shakes her head as she’s already amassed more than $100,000 worth of student debt.

“The loans I have increased and continue to increase. To hear that it will increase one more time is just another blow I guess,” said Koo.

Koo and Anne Tasaki each have one more year left of graduate school.

KCBS’ Margie Shafer Reports:

“I just feel like we’re trying to invest in our future and it’s a little hard to do this when we don’t get support,” Tasaki said.

Of course their education is for themselves, but also they say to serve the public and to take care of health care needs.

Heath care has become a political football in the student-loan debate.

The Republican bill which President Obama has promised to veto pays for a one-year extension of the lower interest rates by eliminating the Prevention and Public Health Fund created by the president’s health care reform law.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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