Student loan interest rates up 0.8% - Fox29 WFLX TV, West Palm Beach, Florida-

Student loan interest rates up 0.8%

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(WFLX) - Starting Tuesday, July 1, if you or your kids plan on taking out a federal student loan, you'll be paying a higher interest rate. It's going up by 0.8 percent.        

For every $10,000 you borrow that adds up to an extra $4 a month to pay it back.

Until last year, student loan interest rates were set by law and didn't adjust with economic conditions.

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