Strap On Your Hiking Boots

The Federal Reserve has been pouring on the interest rate hikes recently and is expected to do so again this coming Tuesday. The majority of the impact of this will fall to the lower and middle income brackets. The rates have been raised by 1/4 of a percentage point six times since last May, which they say is a response to a steady increase in the health of our economy. These increases have cost consumers $15 billion in the past year alone, with an estimated $25 billion in costs if the trend continues. Many consumers who have higher incomes are buffered to these effects through locked in mortgage rates, but college students and their loans are unprotected. Seeing as how our demographic is disproportionately affected by these rate hikes, it should be particularly interesting for those of us who will be setting up loans for cars, houses, etc. as we make our leap into the real world. The information for this post can be found HERE.