Good news: starting July 1st the interest rate for Federal Loans is lower than the borrowing rate for Academic Year 2024-25. This year, students will be charged 6.39% and parents will pay 8.94% for Federal Direct and Federal Direct Plus Loans respectively. The Origination Fees are unchanged for each: 1.057% for Direct Loans and 4.228% for Plus Loans. Students and …
Federal Student Loan Rates Are Soaring – Here’s What To Do
Paying for college has always been a challenge but this year may be the worst ever. To top off a difficult financial aid season, interest rates on Federal Direct Loans for students and parents are set to increase, a lot. This article will tell you why the interest rates are going up, offer some strategies to borrow at the least …