The U.S. Department of the Treasury is set to raise federal student loan interest rates in July, Money magazine reported Wednesday. The move had been expected after the Federal Reserve increased benchmark interest rates in recent months.
New undergraduate federal loans will have an interest rate of 4.45 percent during the upcoming academic year, up from a historically low rate of 3.76 percent. The rate for graduate student loans will be 6 percent, up from 5.31 percent. Parent PLUS loans will have a rate of 7 percent, up from 6.31 percent.
Opinions on Inside Higher Ed
Inside Higher Ed’s Blog U
Topics
College Pages
Featured college pages
Popular Right Now
Trump administration reportedly considers restrictions on foreign student work program
Most teaching is going remote. Will that help or hurt online learning?
Private colleges convinced company to scuttle release of list of projected college closures
Live Updates: Latest News on Coronavirus and Higher Education
College Board says AP testing was a success, is sued
U.S. plans to cancel visas for students with ties to universities connected to Chinese military
How will pass/fail affect students' future?
Teaching and Learning After COVID-19
How the shift to remote learning might affect students, instructors and colleges
Expand commentsHide comments — Join the conversation!