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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 ...
Key takeaways. Interest rates on federal student loans are always fixed. These rates are set on July 1 each year for loans disbursed from July 1 to June 30 of the following year.
The U.S. Department of Education’s newly announced federal student loan interest rates for the 2024-25 academic year broke longstanding records. ... graduate and PLUS loans’ rates will be the ...
The federal student loan program was criticized for not adjusting interest rates according to factors under students' control, such as the choice of academic major. Critics have contended that flat-rate pricing contributes to inefficiency and misallocation of resources in higher education and lower productivity in the labor market. [ 15 ]
As expected, the U.S. Supreme Court struck down President Joe Biden's federal student loan forgiveness program last week, which means that more than 45 million borrowers will soon have to begin...
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