SOURCE: www.herald-citizen.com
PUTNAM COUNTY -- Those of you who have Stafford and Plus loans, there's some good news that's just been released -- they are at their lowest rates since the federal student loan program was put in place.
Loans issued after July 1, 1998 through June 30, 2006 can now be consolidated and changed to one loan with a fixed rate.
"Stafford loans in repayment status is now at a fixed rate of 2.48 percent, down from 4.21 percent last year," Landon Vick of Cravens and Company wealth management said. "The in-school grace period or deferment status loan's new rate is 1.88 percent, down from 3.61 percent last year. The new rate for the Plus loan is 3.28 percent, down from 5.01 percent."
These new rates only apply to Stafford and Plus loans.
For more information about consolidation and what it means for student loans, visit www.loanconsolidation.ed.gov.
Loans issued after July 1, 1998 through June 30, 2006 can now be consolidated and changed to one loan with a fixed rate.
"Stafford loans in repayment status is now at a fixed rate of 2.48 percent, down from 4.21 percent last year," Landon Vick of Cravens and Company wealth management said. "The in-school grace period or deferment status loan's new rate is 1.88 percent, down from 3.61 percent last year. The new rate for the Plus loan is 3.28 percent, down from 5.01 percent."
These new rates only apply to Stafford and Plus loans.
For more information about consolidation and what it means for student loans, visit www.loanconsolidation.ed.gov.
SOURCE: www.herald-citizen.com
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