On July 1, 2010, the interest rate for subsidized federal student loans dropped for the third year in a row, as required by the College Cost Reduction and Access Act of 2007.
What is the new federal student loan interest rate?
What is the new federal student loan interest rate?
Continue reading for the answer.
- 4.25%
- 4.5%
- 5.5%
- 6.25%
The correct answer is 4.5%.
On July 1, 2011 the interest rate will decrease once more, to 3.4%.
In addition to lowering interest rates on federal student loans, the Democratic-led Congress has:
On July 1, 2011 the interest rate will decrease once more, to 3.4%.
In addition to lowering interest rates on federal student loans, the Democratic-led Congress has:
- Raised the annual maximum Pell Grant scholarship to $5,550
- Saved taxpayers $61 billion, which was used to re-invest in higher education and reduce the federal deficit
- Created, and then expanded, the income-based student loan repayment program
- Provided up to $4,000 a year in tuition assistance to students who commit to teaching in a high-need school or subject area for four years after graduation
- Provided loan forgiveness to graduates who work in public service or at a non-profit for 10 years
