WZTV FOX 17

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Interest Rates Could Double Next Month on Subsidized Student Loans - Erika Lathon

If congress can't reach an agreement by July first interest rates for some student loan rats could double from 3.4% to 6.8%. The hike would only affect federally subsidized student loans which are issued based on economic need. Students say the cost of paying for college adds up quickly and increasing interest rates will only hurt those who are already struggling. Tennessee Senator Lamar Alexander is among lawmakers pushing for a permanent solution that will reduce student loan rates.

Law Firm Warns Clients About Pay Day Loan Scam -- Erika Lathon

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A local law firm is caught in the middle of a collection scam. It's warning clients and other local law firms who may be targeted, as well. The Collins Law Firm in Nashville began getting phone calls from people who said the firm contacted them about pay day loans they didn't owe. In several cases callers were told they would be arrested if they didn't pay up. Attorney, Grover Collins says his firm does...