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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 ...
In light of the Federal Reserve’s recent string of interest rate cuts, Americans may increasingly be looking at refinancing their government-sponsored student loans.. But there’s a major ...
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 ]
In 2010, the U.S. Department of Education announced stricter eligibility rules for federal financing of loans to student at for-profit schools, which were experiencing higher default rates. [45] Student loans totaled more than $1.3 trillion, averaging $25,000 each for 40 million debtors. The debtors average age was 33.
Congressional Democrats introduced legislation on July 27 that would lower student loan interest to 0%, while capping rates for future borrowers. If passed, this would be a huge help to 44 million...
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