Navigating the Current Student Loan Interest Rate Landscape
TL;DR Summary
The interest rates on new federal student loans will increase by about half a percentage point from their current levels starting July 1, with undergraduate student loans facing the highest level since 2013. The changes affect only new federal student loans, not existing loans. Loan relief ongoing: The interest rate on all federally-held student loans has been set to zero since March 2020 under the freeze on student loan payments, which the Biden administration has extended repeatedly.
Topics:business#biden-administration#college-education#education#federal-student-loans#interest-rates#loan-relief
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