South Carolina Math

Before the recent changes in the student loan program, students were paying 6.8% for their loans. They will now be paying 6.8%. According to South Carolina Senator Lyndsey Graham that change from 6.8% to 6.8% will mean that students will be spending $1,700 to $1,800 more over their lifetime for their student loans. You see 6.8% - 6.8%=0.0% change which can make a huge difference according to Senator Graham. Now, that’s real South Carolina math.

For more on Senator Graham's calculations go here:

See http://www.politifact.com/truth-o-meter/statements/2010/mar/30/lindsey-graham/new-bill-doesnt-alter-interest-rate/