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Federal student loan interest rates are fixed for the life of the loan; however, the rates for new loans will change annually, based on the current market. The interest rates for the 2013–2014 academic year are as follows: 3.86% for undergraduate Stafford Loans (both subsidized and unsubsidized) 5.41% for graduate Stafford Loans [6]
The law did not affect new unsubsidized Stafford loans. The rate remains 6.8%; PLUS loans made beginning July 1, 2006: 8.5% in FFEL Program; 7.9% in DL Program. For PLUS loans made before July 1, a variable rate applies (with a 9.00% cap). The House passed a resolution in May 2013 to tie student loan rates to free market loan rates.
The Unsubsidized Stafford Loan and Grad PLUS loans are non-need-based loans available for both undergraduate and graduate students who do not qualify for need-based financial aid. [ 16 ] Even though these loans are not subsidized, interest rates are set by Congress, the programs are closely supervised, and they provide many protections that ...
As of 2022, over half of all college students have taken on student loans to pay their tuition. Future students will likely need loans as well and should understand their options.
When you take out federal student loans to pay for school, you may be considering subsidized versus unsubsidized loans. Subsidized vs. Unsubsidized Loans: Which Is Better for College Borrowing ...
This round of forgiveness primarily targets borrowers who borrowed $12,000 or less for college and have made at least 10 years of payments. ... Unsubsidized Federal Stafford Loans (from the FFEL ...
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