Student loan interest spike prevented

The Bipartisan Certainty Student Loan Act signed by President Obama on Aug. 9 will prevent the doubling of interest on Stafford loans that was set to take place.

Undergraduate Stafford loan interest will be set at 3.86 percent, graduate Stafford loans will sit at 5.41 percent and PLUS loans will be 6.41 percent, according to Huffington Post.