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Doubling of loan rate affects 5,700 students at MSU

Student Loan Rates Doubling
Adrian Sanchez-Gonzalez/Chronicle

Sarah Warner with the Office of Career Services at Montana State University, right, helps identify job posts to Samantha Santjer, Monday, July 8. College students concerned about their student loan rates doubling are taking multiple jobs to meet their financial needs and hope Congress acts to restore the lower rates.

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Student Loan Rates Doubling
Adrian Sanchez-Gonzalez/Chronicle

Nicole Olsen, 20, gets help from her father Peter Olsen, while attempting to file financial aid documents near the Financial Aid Office at Montana State University in this 2013 file photo.

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Student finnancial aid
Adrian Sanchez-Gonzalez/Chronicle

Nicole Olsen, 20, gets help from her father Peter Olsen, while attempting to file financial aid documents near the Financial Aid Office at Montana State University in this 2013 file photo.

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Nearly 6,000 students at Montana State University will have to repay more money on their federal subsidized student loans, unless Congress acts to lower the interest rate that just doubled.

“We are hoping those (rates) will stay down, because access and affordability … are really important to us,” Lindsay Murdock, MSU student president, said Monday.

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