Western Illinois University: Macomb Campus
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The biggest casualty in the debt ceiling compromise reached by President Obama and Congress represented the least bad option - a change that would make graduate students responsible for the interest that accrues on their loans while they’re in school. Starting in 2012-13, graduate students will only be eligible for federal unsubsidized loans.
Under the proposed change, undergraduate borrowers would still have the six-month grace period before repayment begins, but they would be responsible for the interest that accrued during that time.
A student perspective on the facts (and fiction) of student loan debt.