When Brandon Anderson takes a subsidized federal student loan this fall, it will be $1,000 costlier.
That’s because Anderson is among 7 million undergraduates caught in the middle of a debate in Washington over whether to hold down, or let the 3.4% interest rate to double to 6.8% starting in July for undergraduates borrowing new subsidized federal student loans.
Anderson’s route to college wasn’t typical. A high school dropout, he served in Iraq in 2003 and 2004.
After his tour ended, Anderson returned to the state of Washington, where he was stationed. He completed his high-school level skills with a GED, and enrolled at the local Bellevue College, where he served as student body president.