Rates on student loans are set to rise by almost 2 percentage points on July 1. In 2004, the average student loan consolidation was for $20,500.
Total interest payments after 10 years at the current rate of 3.375 percent
$3,682
Total interest payments after 10 years at the new rate of 5.375 percent
$6,045
Total savings from consolidating before July 1
$2,363
For information on consolidating your student loans, see www.salliemae.com or www.collegesavings.com.
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More From Star Tribune
More From Business
Business
The Latest: China reports a few new cases of COVID-19
China on Sunday reported 109 new confirmed COVID-19 cases, two-thirds of them in a northern province that abuts Beijing, and no deaths.
Sports
Mass on kidney to keep LeVert out indefinitely for Pacers
Caris LeVert's debut with the Indiana Pacers has been put on hold indefinitely after an MRI revealed a small mass on his left kidney.
Nation
Teens tutor peers online to fill need during pandemic
When her suburban Dallas high school was forced to move online last spring because of the coronavirus pandemic, Charvi Goyal realized that the schoolmates she'd been informally tutoring between classes would still need extra help but wouldn't necessarily be able to get it. So she took her tutoring online, as well.
Business
Ex-Florida data scientist Rebekah Jones plans to surrender
A Florida woman fired from her job as a COVID-19 data curator said she'll surrender to authorities Sunday amid an investigation of allegations that she had hacked into the state's emergency response system.
Business
AP Exclusive: Selena Gomez: Big Tech 'cashing in from evil'
Hours after an angry mob of Trump supporters took control of the U.S. Capitol in a violent insurrection, Selena Gomez laid much of the blame at the feet of Big Tech.