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MICHIGAN: The near doubling in the cost of a college degree in the past decade has produced an explosion in high-priced student loans that could haunt the US economy for years.
While scholarship, grant money and government-backed student loans – whose interest rates are capped – have taken up some of the slack, many families and individual students have turned to private loans, which carry fees and interest rates that are often variable and up to 20%. Continue reading “Student loans shoot through the roof in US”