Top Trenders: Student Loan Costs Will Rise This Fall

Top Trenders: Student Loan Costs Will Rise This Fall

Thanks to Congress, interest rates could be nearly a percent-point higher than in previous years.
Here are your Top Trenders for Thursday, May 8th!

NUMBER 5 - TORNADO OUTBREAK IN COLORADO
Severe thunderstorms erupted over northeast Colorado Wednesday afternoon, bringing tornadoes and quarter-sized hail. A small rope tornado was seen just southeast of Akron and a large land spout tornado was spotted about three miles southwest of Otis. Meanwhile, quarter-size hail, measuring two inches deep, was found on a roadway three miles east of Akron.

NUMBER 4 - STUDENT LOAN COSTS GO UP
College freshmen taking out government student loans will pay a heftier price this fall. Thanks to Congress, interest rates could be nearly a percent-point higher than in previous years. Under this rate, seniors with one year of school left could pay an additional $260 in interest over a 10-year period. Analysts say freshmen, with at least four years of college ahead of them, could pay more than $1,000 of interest over the life of their loans.

NUMBER 3 - FERRY COMPANY OWNER DETAINED
The head of the company that owned the ferry that sank off South Korea's coast last month has been detained. Authorities believe overloading and improper stowage of cargo may be reasons for the ferry sinking. More than 300 of the 476 people on board died or are missing. All 15 crew members who survived and were involved in the ferry's navigation have been arrested. They're accused of negligence and failing to protect passengers.

NUMBER 2 - FIRST LADY JOINS FIGHT TO FIND NIGERIAN GIRLS
First Lady Michelle Obama tweeted a photo showing her holding a sign reading "#bringbackourgirls," an outcry echoed by many after gunmen from Boko Haram overpowered guards at an all-girls school in Nigeria, kidnapping hundreds of teenage girls. The group's leader still promises to sell the kidnapped girls, presumably into slavery and forced marriages. The U.S. State Department say it's sending teams to Nigeria to help with the search.

NUMBER 1- PRESIDENT TOURS ARKANSAS TORNADO DAMAGE
President Obama was in Arkansas Wednesday, getting a first-hand look at the deadly damage left behind by April's tornado outbreak. The president met with tornado victims in Vilonia, as well as community and state leaders. He praised the town for braving the storm and having the courage to rebuild. He also promised that the federal government would be there to support the town's recovery.

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