Student loan rate hikes explained

POSTED: 9:51 AM PDT July 8, 2013    UPDATED: 11:00 PM PDT July 8, 2013 

Here's what you need to know about the recent hike in student loan interest rates.

Piggy bank, graduation, college savings
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iStock / kroach

Tuition at public schools: With education costs going up and student aid and grants not keeping up, students at many public institutions can expect to pay more in tuition and fees this year.

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