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The U.S. Department of Education’s newly announced federal student loan interest rates for the 2024-25 academic year broke longstanding records. Experts and policymakers alike predicted a jump ...
The federal student loan interest rate will be 6.53% for undergraduate students, up from 5.5% for the current year. The interest rate has not been that high on any undergraduate loans since the ...
The Federal Reserve’s actions can influence student loan interest rates.
Federal interest rates on student loans have lurched upward since 2020, when they were set at 2.75% to 5.3%. Chris McKenna covers government and politics for The Journal News and USA Today Network ...
The U.S. prime rate is in principle the interest rate at which a supermajority (3/4ths) of American banking institutions grant loans to their most creditworthy corporate clients. [1] As such, it serves as the de facto floor for private-sector lending, and is the baseline from which common "consumer" interest rates are set (e.g. credit card rates).
The impact of the Federal Reserve's latest interest rate hike on student loans falls firmly into the "it depends" category -- mostly having to do with who provided the loan and when you got it....
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