06.03.08 | Interest rate changes on federal student loans
As of July 1, 2008, interest rates will be changing on federal student loans such as the Stafford loan. Here’s a quick rundown of the details:
For new Stafford loans:
- Subsidized: 6.0%
- Unsubsidized: 6.8%
For Stafford loans older than July 1, 2006:
- In grace period: 3.61%
- In repayment: 4.21%
For PLUS loans older than July 1, 2006:
- All older PLUS loans: 5.01%
If you’re just filing your FAFSA now, be aware that loan limits have increased as well; you’ll receive additional details from your school’s financial aid office in your award letter and financial aid package.
The FAFSA blog is sponsored in part by:
Five most recent FAFSA form help blog posts:
The Student Loan Help blog is sponsored in part by:
