loan private refinancing student

Interest rates up on college loans

College students are paying higher interest rates on their federal college loans as of July 1, according to a report from Campaign for Americas Future, a group of citizen activists and policy analysts. Stafford loan interest rates increased from 5.3 percent to 7.14 percent on old loans and to 6.8 percent on new loans and PLUS loans, which are obtained by students parents, increased from 6.1 percent to nearly 8 percent for existing loans and to 8.5 percent on new loans.The interest rates are pretty high compared to the rates from two or three years ago, but they have been higher, according to Kelly Izat, financial aid counselor at Frostburg State University. Theyve always changed once a year theyre variable, Izat said of the interest rates. Compared to what its been for the last couple years, its a shock.Although the interest rates have changed from year to year, interest rates on federal loans dispersed after July 1 will be fixed, according to Izat.What is significant about the changes in interest rates is that the U.S Department of Education has fixed the rates on new loans, said Alan Batchelor, director of financial aid at Garrett College.

More loan private refinancing student info

Students rushing to refinance loans before Saturday rate increase

JEFFERSON CITY, Mo. -- Thousands of college students and parents are clogging phone lines and rushing to Internet sites in a scramble to refinance college loans before a sharp interest rate increase this weekend. An almost 2 percentage point interest rate increase for federal student loans kicks in Saturday, and advisers say that not refinancing could cost thousands of additional dollars in interest in the decades after a student enters the work force. At the Missouri Higher Education Loan Authority, the nation's 12th largest student loan holder, calls are coming in at a clip of up to 15 a second, contributing to a tenfold increase in applications for student loan consolidations, said Raymond Bayer Jr., the agency's interim executive director. Other loan agencies also are experiencing high demand.

More loan private refinancing student info

loan private refinancing student Link Partners and Resources