Stafford Student Loan News

… the Deficit Reduction Act wasn’t resetting rates on July 1, the variable rate loans wouldn’t be much of a savings at all. The current T-Bill rate is 4.563%, which means that if loans were set at today’s rates, they would be:

Stafford in grace: 6.263%
Stafford in repayment: 6.863%
PLUS: 7.663%

Someone needs to write a memo to Congress to let them know that education financial aid needs to be more of a priority.