Students who receive federal student loans may see extra fees this year due to the sequestration and the automatic federal government budget cuts, according to The National Association of Student Financial Aid Administrators.
The U.S. Department of Education sent out letters to parents and graduate students who receive Direct PLUS Loans. The letter reported that rates would increase by 0.2 percent, according to Think Progress, a nonpartisan project from the Center For American Progress Action Fund.
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