Costs of student loans going up in 2017-18 school year

If you are heading back to school and planning to take out federal student loans next year, keep in mind that they are about to get more expensive. Interest rates on student loans are going up, after new rates were set through an annual Treasury auction held this week. As of July 1, for the 2017-18 school year, the rates will be 4.45 percent for undergraduate and 6 percent for graduate student loans, compared to rates of 3.76 percent for undergraduate and 5.31 percent for graduate loans in the 2016-17 school year.