Video: Cost of college loans going up

updated 6/26/2006 8:20:20 AM ET 2006-06-26T12:20:20

It's graduation season, and for many the cost of that college education drags on for a decade or more.

The average college graduate owes $20,000 in loans and pays more than $5,000 in interest over the life of the loan.

The government will be raising interest rates on July 1, so you should lock in rates now to reduce the amount you'll have to repay.

Explore the links below for helpful tips on how you can best manage your loans before the rates rise.

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