Plan would cap rates on loans to undergrads

Under the compromise measure, undergraduate students would pay a rate of 3.85% next year on subsidized and unsubsidized Stafford loans. The plan would cap rates on loans to undergrads at 8.25%, for graduate students at 9.5% and parents at 10.5%. While this is not the agreement that any of us would have written, and many … Continue reading “Plan would cap rates on loans to undergrads”

Making smaller payments over a longer time

Federal student loan consolidation allows you to combine one or more existing student loans into one single consolidation loan with a new repayment schedule. You will have lower monthly payments, but you will pay much higher interest over the life of the loan because you will be making smaller payments over a longer time. When … Continue reading “Making smaller payments over a longer time”