Interest Rate Hikes on July 1? Don’t Panic

The rate on subsidized Stafford loans — the federally sponsored loans available to studentsicon1.png with need — jumps from 3.4% to 6.8% on July 1, barring a last-minute (and unlikely) save from Congress. Despite the headlines, there’s no reason to panic. The rate applies only to new loans, not those that are outstanding, and it doesn’t necessarily mean your payments will soar, says Mark Kantrowitz, of Edvisors.com.

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About defaultprevention

Default Prevention Specialist since 1998.
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