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Student Loans

By: killthecat in FFFT | Recommend this post (0)
Tue, 01 Jul 14 12:25 AM | 108 view(s)
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WASHINGTON â€” Interest rates go up Tuesday for students taking out new federal loans.

The change stems from a high-profile, bipartisan deal brokered last year by Congress and signed by President Barack Obama that ties the rates to the financial markets.

Interest rates go from 3.86 to 4.66 percent on undergraduate Stafford loans. Graduate student loans go from 5.41 percent to 6.21 percent. Interest rates on Plus loans for parents go from 6.41 percent to 7.21 percent.

The compromise in Congress was reached after rates doubled last July.

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