On April 9, New York’s state legislature approved Democratic Gov. Andrew Cuomo’s proposal to provide free college tuition to New York residents who are full-time students and earn less than $100,000 annually. In 2018, the cap will increase to $110,000 and then $125,000 in 2019.
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The average federal student loan debt at the University of La Verne for 2013 is about $22,000, said Diane Anchundia, director of financial aid.
Attention students: Prepare to empty your wallets, max out your credit cards and expand your debt as you pursue your education at the University of La Verne. A 6.5 percent increase in tuition has been approved for the 2012-2013 school year.
Republicans in the Senate blocked the Democrats’ bill Tuesday that would prevent the interest rates of the Stafford Loan from doubling July 1. The interest rate that is currently 3.4 percent would double to 6.8 percent, a price that only adds to the thicket of debt students are fighting.
In an ailing economy many college students find themselves trying to fund their education with loans, and when they graduate they end up thousands of dollars in debt with no job offers.