Wednesday, January 25, 2006
New site about PLUS Loans
If you are a parent looking for money for your student in college, or you are a student in need of money, you will really want to check out PLUS loans. PLUS loans are parent loans for undergraduate students. Parents take out PLUS loans for students who just need the extra money for college. You can find out more at a new PLUS Loan site.
Saturday, January 14, 2006
Congress expected to pass fixed Stafford Loan rate
In a new financial aid bill that is expected to pass through congress there are quite a few changes students need to be concerned about. Among other cuts, totaling billions from college financial aid over the next 5 years- is a fixed rate for Stafford Loans.
This fixed rate will be set at 6.8 percent. This is a major ordeal, as loan rates are now variable and change every year. Currently they are linked to the ninety-day treasury bill, which is as low as 4.7 percent.
In the past Stafford Loans interest rates have been as high as 8 percent, however, right now they are much lower than the proposed 6.8 percent lifetime rate.
This bill passed the senate, is expected to pass the house, and the president is expected to sign it into law.
There are several other important parts to the bill that will be dissected soon.
Stay Tuned.
This fixed rate will be set at 6.8 percent. This is a major ordeal, as loan rates are now variable and change every year. Currently they are linked to the ninety-day treasury bill, which is as low as 4.7 percent.
In the past Stafford Loans interest rates have been as high as 8 percent, however, right now they are much lower than the proposed 6.8 percent lifetime rate.
This bill passed the senate, is expected to pass the house, and the president is expected to sign it into law.
There are several other important parts to the bill that will be dissected soon.
Stay Tuned.
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