The interest rate has been increased by 0.25% by the Federal Reserve which means that student loans will also get more expensive causing trouble for students. The increase or decrease in the rate of interest charged on the borrowing of mortgages is directly proportional to loans becoming more expensive. The Federal Reserve is likely to revise the interest rate six times over the course of this year. Students who have already taken loans on a fixed interest rate shall remain unbothered by this change but students with variable interest rates may witness changes. All those students who are planning to take the loans now will be hugely impacted.
