Variable Student Loan Rates Drop 3%
Posted by Student Loan on May 29th, 2008 at 02:58am
The final auction of the Treasury Bill has taken place, and the new ratios for variable student allowances obtain come abouten determined.
Drum revolve please…
3.
60%
4.21% - Stafford loans in repayment (down from 7.22%)
5.01% - Parent PLUS loans (down from 8.02%)
What does this mean? If you have federal Stafford or PLUS loans that were disbursed prior to July 1, 2006, your attraction rate is going to drop. So if you were thinking about consolidating your student loans, I highly recommend that you wait until after July 1, 2008. You rise to liberate a lot of money…
Again, these rate decreases will only result loans that were taken out prior to July 1, 2006. Any Stafford or PLUS loan taken out after July 1, 2006 has a fixed interest rate, and will not be affected.
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