The cost of college continues to climb.
Interest rates for millions of student loans increased July 1st.
Undergrads are now paying 4.66% versus last year's rate of 3.86%.
Rates for grad students now sit at 6.21%, up from 5.41%.
Parents taking out loans will pay an interest rate of 7.21%, up from 6.41%.
Troy Sutton explains as a borrower it is important to understand your debt, delay your repayment, build your payment plan and contact your lender.