College Tuition Rates Rise; Student Loans Set to Double

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WEST Mich. — FOX 17 made calls to several colleges and universities to check on tuition rates for 2013/2014.

Wednesday morning, Western Michigan University board of trustees approved a 3.75% flat rate increase for full-time students for next fall.

Ferris State University tuition is going up $8 per credit hour. Kalamazoo Valley Community College is increasing $5 per credit hour.

Kellogg Community College is increasing $2 per credit hour. Grand Rapids Community College is increasing its tuition by $5 per credit hour.

FOX 17 also called Grand Valley State University. Their 2013/2014 rates will be voted on in the coming weeks.

As college costs continue to climb, student loan rates will double by July 1st if Congress doesn`t act. That means deep debt for prospective students, unless they have a financial plan.

Kevin Gagnon with College Planning Professionals said there are several options for prospective students when it comes to financial planning. The Grand Haven-based company helps students and their families plan for college without going broke. Gagnon suggests students treat their college search like they would any business deal. Be sure to have many options in order to ensure the best fit.

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