Federal student loan interest rates to drop to record lows for 2020-21 school year. (via CNBCMakeIt)
That's a savings of around $100 per year in interest per $10,000 borrowed for undergraduate loans,Graduate Stafford loans will have an interest rate of 4.3% this school year, down from around 6.1%, and grad PLUS and parent PLUS loans will be set at 5.3%, a decline from around 7.1%.
These rates apply to the federal loans taken out for the upcoming school year and are fixed over the life of the loan. They do not apply to those who have already taken out federal loans in previous years or to those with private loans.While lower rates will be attractive for many college students, the coronavirus shutdowns have led others to
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