The variable rates for Federal Stafford and PLUS Loans were lowered on July 1. According to FinAd, a Web site devoted to financial aid, said the existing interest rates on the Stafford Loan are 6.62 percent during in-school and grace periods and 7.22 percent during the repayment period. The current interest rate on the PLUS Loan is 8.02 percent.
Read more details about the lowered interest rates at FinAid and Student loan rates will decrease July 1
If you’re considering entering college soon, and know that you’ll need student loans then you might want to read this post. As the credit crisis continues, it’s becoming harder to find students loans. A number of banks and nonblank lenders have started to renegotiate at higher percentage rates and some have even decided to stop lending money.
