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TOLEDO, OH (Toledo News Now) -
Classes start Monday for University of Toledo students. That means this week is move-in week.
And students there are breathing a sigh of relief now that the student loan crisis has been averted. President Obama signed a bill Friday that lowered student loan interest rates to 3.9 percent. The rate had doubled on July 1, to 6.8 percent.
The reduction will save the average student $1,500 in interest charges. Freshmen meeting at a barbecue at UT Tuesday said they felt relieved.
"I'm still trying to pay this off, but I'm happy it's not double, so I don't have a lot to worry about," said Imari Dixon.
"It definitely helps out a lot, because I can't pay for it myself like that," added Hannah Grow. "Plus, I'm going to med school after that, so I don't really want to rack them up too high."
The new bill also allows graduate students to borrow at a 5.4 percent interest rate.
A college town can play just as big of a role in the college experience as the university itself. The American Institute for Economic Research has compiled a list of the best college towns.More >>
A college town can play just as big of a role in the college experience as the university itself. After reviewing a number of factors, the American Institute for Economic Research compiled a list of the best college towns for 2012-13.More >>