The student loan interest rate will officially jump on Monday from 3.4% to 6.8%.

While this is bad news for those taking out new loans, it could have been worse. One measure suggested tying student loan interest rates to the market, which could result in a student loan interest rate as high as 8.5% at times.

Still, the new interest rate means students will be paying much more over the life of their loans, especially if they opt for extended repayment plans.

Around the web, I have been reading some excellent personal finance articles. Here are some of my favorites:

If you think you know all the frugal tricks out there, Frugal Confessions will probably prove you wrong with her list of 7 favorite frugal hacks. Sustainable Life Blog shares how he did financially in May. Way to go with the debt repayment! Head over to The Frugal Toad for a chance to win a Kindle Fire. Kudos to Budgeting in the Fun Stuff for setting a weight loss goal and being within weeks of reaching it. Have you broken one of the 10 commandments of personal finance? Money Cone gives the complete run down. The Family CEO expands on her series documenting how much college costs by sharing her daughter’s expenses while studying abroad for the summer. When you’re deep in the trenches of paying down debt, you can feel like you’re not making progress. Sometimes, a few years of progress can make all the difference. Consider My Journey to Million’s case. My Personal Finance Journey shares a strategy that may motivate you to save more for retirement or make you unwilling to spend any money without feeling guilty. Looking to make some extra money in the evenings? Try one of these jobs Barbara Friedberg Personal Finance suggests. Financial Samurai shares his sweet spot for setting the perfect rental price. Great technique! Money Beagle asks an important question that many bloggers probably have–does Google value bloggers? Is closing a credit card account a good idea? Narrow Bridge Finance tackles this tricky issue. Money, Life and More advises you to destroy debt like it’s your job. Yes, I Am Cheap is launching a new business and paying down debt!

On a different note, Everything Finance was featured in several blog carnivals recently:

Carnival of Financial Independence #12 hosted by Reach Financial Independence

Yakezie Carnival hosted by Growing Money Smart

Lifestyle Carnival hosted by KNS Financial

Festival of Frugality #391 hosted by Festival of Frugality

Carnival of Financial Independence #13 hosted by Reach Financial Independence

Carnival of Personal Finance #417 hosted by According to Athena

Carnival of Financial Independence #14 hosted by Reach Financial Independence

How to Blog Conference hosted by Bloggers Classifieds

Yakezie Carnival hosted by Financial Conflict Coach

Carnival of Retirement #75 hosted by Dividend Growth Investor

Yakezie Carnival hosted by Master the Art of Saving

Carnival of Financial Camaraderie #87 hosted by Free at 33

Thanks to the hosts for including my posts!