2014's fast food atrocities
Burger King's black cheeseburger: Made with squid ink and bamboo charcoal, arguably a symbol of meat's destructive effect on the planet. Only available in Japan.
WASHINGTON (AP) — Interest rates go up Tuesday for students taking out new federal loans. This hike is relatively minimal but could foreshadow more increases to come.
The change stems from a high-profile, bipartisan deal brokered last year by Congress and signed by President Barack Obama that ties the rates to the financial markets.
Interest rates go from 3.86 to 4.66 percent on undergraduate Stafford loans. Graduate student loans go from 5.41 percent to 6.21 percent. Interest rates on Plus loans for parents go from 6.41 percent to 7.21 percent.
For every $10,000 borrowed, the average borrower under the hike will pay back about $4 more every month when they begin paying back the money — about the price of a fancy latte.
If the economy continues to improve, however, these kinds of rate hikes could continue. Congress stipulated that the rates for new loans be reset annually, but that borrowers keep the rate they were given for the life of the loan.
The compromise in Congress was reached after rates doubled last July.
Students take out new loans each year, so by the time they graduate they could be repaying loans that have different interest rates.
Mark Kantrowitz, publisher of edvisors.com, estimates that today’s freshman could potentially see rates the same or higher than they were when Congress acted by the time they graduate. When Congress acted, rates for undergraduate students were at 6.8 percent.
“The real concern is that the interest rates have nowhere to go but up,” Kantrowitz said.
The deal did include some caps. Interest rates will not top 8.25 percent for undergraduates. Graduate students will not pay rates higher than 9.5 percent, and parents’ rates top out at 10.5 percent.
Follow Kimberly Hefling on Twitter: http://twitter.com/khefling
Domino's Specialty Chicken: It's like regular pizza, except instead of a crust, there's fried chicken. The company's marketing officer calls it "one of the most creative, innovative menu items we have ever had” -- brain power put to good use.
KFC'S ZINGER DOUBLE DOWN KING: A sandwich made by adding a burger patty to the infamous chicken-instead-of-buns creation can only be described using all caps. NO BUN ALL MEAT. Only available in South Korea.
Taco Bell's Waffle Taco: It took two years for Taco Bell to develop this waffle folded in the shape of a taco, the stand-out star of its new breakfast menu.
Krispy Kreme Triple Cheeseburger: Only attendees at the San Diego County Fair were given the opportunity to taste the official version of this donut-hamburger-heart attack combo. The rest of America has reasonable odds of not dropping dead tomorrow.
Taco Bell's Quesarito: A burrito wrapped in a quesadilla inside an enigma. Quarantined to one store in Oklahoma City.