Some government loans for college graduate students covered, or forgave, the interest payments while the student was still in school.  Not anymore: “They will be responsible for the interest while they’re going to school, beginning in the 2012/2013 academic year.”- James Martin, Idaho State University Associate Director of Financial Aid

You can thank the Debt Limit deal just signed into law by President Obama.

For some students who have to take the maximum loans, it could mean paying $207.00 per month in interest, while they’re in school.  That would mean they would have much less of their loans to live on.

Many graduate students at Idaho State said they might not be able to continue their higher education: “So I think taking away the subsidized, which most of my loans are, I don’t think I would have attended this program if they had done that.”-Chris Thurston

“You know, I know they have to make cuts somewhere, but unfortunately it’s the one that will affect me. But you just gotta do what you gotta do.”-Zach Migel

“If we don’t have the ability to pay for it, we’ll go for not the top notch schools, we’ll go for cheaper schools, cheaper programs.”-Sheila Mitchell

On top of the ending of the interest subsidies, the Debt Limit deal also ends a credit for students who make 12 on time loan payments.