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Interest Rate Change for New Direct Subsidized Loans
If you are an undergraduate student and plan to take out a Direct Subsidized Student Loan after July 1, 2012, please be aware that the interest rate for that loan will be set at 6.8%. This rate is double the 3.4% interest rate that applies to undergraduate Direct Subsidized Loans received before July 1, 2012.
This increase in the interest rate was established by Congress in 2007 and cannot be changed by the U.S. Department of Education. The President's budget request for next year includes a proposal that, if approved by Congress, would maintain the current 3.4% interest rate on new undergraduate subsidized loans made for the 2012-2013 school year.
We wanted to make you aware of this anticipated change in interest rates on new Direct Subsidized Loans so that you could factor it into your financial plans.
Interest Rate Change for New Direct Subsidized Loans
If you are an undergraduate student and plan to take out a Direct Subsidized Student Loan after July 1, 2012, please be aware that the interest rate for that loan will be set at 6.8%. This rate is double the 3.4% interest rate that applies to undergraduate Direct Subsidized Loans received before July 1, 2012.
This increase in the interest rate was established by Congress in 2007 and cannot be changed by the U.S. Department of Education. The President's budget request for next year includes a proposal that, if approved by Congress, would maintain the current 3.4% interest rate on new undergraduate subsidized loans made for the 2012-2013 school year.
We wanted to make you aware of this anticipated change in interest rates on new Direct Subsidized Loans so that you could factor it into your financial plans.
