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Student loan rate hikes explained

POSTED: 12:51 PM EDT Jul 08, 2013    UPDATED: 02:00 AM EDT Jul 09, 2013 

Here's what you need to know about the recent hike in student loan interest rates.

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iStock / kroach

Tuition at public schools: With education costs going up and student aid and grants not keeping up, students at many public institutions can expect to pay more in tuition and fees this year.

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