Important News for College Graduates"College is part of the American dream, it shouldn't be part of the American financial nightmare. I'm fighting for students who want access to higher education and the freedom to achieve the American dream."
-Senator Barbara A. Mikulski
-Senator Barbara A. Mikulski
Reduce Your Federal Loan Costs
Starting July 1, members of the Class of 2008 who have taken out variable interest rate federal student loans will have a once-in-a-lifetime opportunity to refinance these loans and lock in a low, fixed 3.61 percent interest rate.
That's approximately 3 percentage points lower than the variable rate that was set last year. It's the biggest one year drop in student loan interest rates ever.
For more information please visit the U.S. Department of Education's Federal Direct Consolidation Loan Program webpage at http://www.loanconsolidation.ed.gov.