New Education Secretary: Will it make a difference?

ucbalumnus
Wed, 30 Nov 2016 04:54:39 +0000

bluebayou:

I disagree. IMO, at 6%, they are priced under-market.

https://studentaid.ed.gov/sa/about/announcements/interest-rate indicates that federal direct loan rates are 3.76% for undergraduates, considerably lower than 6%.

https://studentaid.ed.gov/sa/types/loans/interest-rates#older-rates shows previous rates. The last time federal direct or Stafford loan rates were 6% for undergraduates was in 2008-2009 for subsidized loans (6.0%), and 2009-2010 for unsubsidized loans (6.8%).