Student Loan Rates Double Today, Ensure Pauperism for College-Bound Millennials

This time on “No, really, we have your best interests at heart,” the Senate has gone on summer vacation and left America’s college students to come to terms with the new terms of their subsidized Stafford Loans — an interest rate of 6.8 percent, doubled from 3.4 percent. Existing loans won’t change, but some 7 million students in the U.S. will have to pay the new higher rate starting today. Don’t worry though — I hear a musical theater degree is totally worth it. [CNN]