This graduation season, Seniors are not the only ones getting gifts! Interest rates for all three student loans operated by the Federal government will drop to the lowest they’ve been in a decade thanks to the Treasury Department’s recent auction of 10 – year notes. Students and Parents borrowing for college will see about half a percentage point drop in interest rates for the 2016-2017 school year.
• The rate for Subsidized and Unsubsidized Direct Loans for undergraduate students will be 3.76%.
• The rate for Unsubsidized Direct Loans for graduate students will be 5.31%.
• The rate for Direct PLUS Loans for graduate and parent borrowers will be 6.31%.
This is good news for all college parents. CPA wants parents to borrow smart. We have created a simple checklist to ensure that you are aware of the best options in the student loan industry.
Click here to review the checklist with your student.