Student Loan Interest Rate Legislation Awaits Obama Signature

A
bipartisan bill has passed its final bump last week. The new rate for all Stafford loans as well as PLUS loans used by parents and graduate students will be tied to the market. With oday’s low interest rates, students and parents will enjoy reduced interest rates for the time being.

Baltimore Sun source quotes, Mark Kantrowitz…..
"It’s an interest rate increase masqueraded as a decrease," warned Mark Kantrowitz, publisher of Edvisors.com, a network of websites on college admissions and financial aid.

While the economy improves and interest rates inrcrease then future families in a few years could be paying substantially more to borrow from the government, he said.

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Default Prevention Specialist since 1998.
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