Oklahoma law helps students manage college loans
Current and incoming students at Oklahoma public universities can expect tuition hikes this fall. University of Oklahoma students will pay 2.7% more in tuition, and Oklahoma State University tuition will increase 2.5%.
On average, tuition fees are increased by 1.3%.
âIt may start to sound like ‘Wow, I graduated so long ago and I’m still paying this,'” Josh Gammon said.
âIt can certainly look like a burden,â he said.
A burden that his fellow Hillcats still enrolled at Rogers State will feel for the 2021-2022 academic year.
âHaving that extra bill on top of all the other bills, it can definitely add up,â Gammon said.
âStudents are struggling to pay off their student debt,â Gammon said. “I don’t think you can do enough to help the students right now.”
But a Senate bill enacted this week can, at least, help clarify matters for student borrowers.
The Oklahoma Student Borrower Bill of Rights protects students from deceptive lenders. It forces lenders to be honest with student borrowers about payment amounts and loan terms. They should also be open about the loan process so that students know what they are getting into.
âIt can be really confusing when you’re just starting out,â Gammon said.
Gammon suggests that student borrowers pay more than the minimum amount, per payment, to ensure they stay ahead of the game. He also believes there are ways to go further to help students, such as capping interest rates on loans, to make college education affordable for more people.
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