Higher Student Loan Interest Rates are Here for New Borrowers
New federal student loan interest rates are established each summer for the loans that will be borrowed during the following school year. The interest rates are based on the 10-year Treasury rate (a benchmark figure representing investor confidence). Once you borrow, your interest rate is fixed for the life of the loan. Here are the interest rates for loans disbursed on or after July 1, 2014, and before June 30, 2015: For Direct Subsidized and Direct Unsubsidized Stafford Loans for undergraduates, the interest rate…
