Student loan interest rates set to reach 16-year high
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- Опубліковано 22 тра 2024
- The borrowing cost for student loans is soon poised to reach a 16-year high. Financial aid expert Mark Kantrowitz told ABC News that the interest rate on a federal undergraduate student loan is expected to climb to 6.5% in July, marking its highest level since 2008. The current interest rate on a new student loan is 5.5%. "I think it's crazy. At least for me, I am scared of how I'm going to pay it off," college student Amber Rivere explained.
Borrow only what you need and send the rest back to the lender. Do not buy cars, vacations, or furniture...Just don't do it
That's only for undergraduates. For grad students it's currently 7.05% & will instease to 8%. For Direct PLUS loans (parents typically take these out), it's currently 8.05% & will increase to 9%! 😱
Parents will pay until they died.
I was paying 8-9% and managed to pay it off even though I graduated in a recession. We probably have more money sitting unused in these college endowments, foundations and other scholarship funds that we should be using up before forcing the taxpayer to pay more.
Don’t go to college, do not get a worthless degree and or go into the trades for a real future.
Gotta pay for those tents and signs somehow.
Gotta spend tax payer money to burn books somehow.