Effective July 1, 2016, new interest rates went into effect for federal student loans. The following rates will apply to all new Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans made between July 1, 2016 and before July 1, 2017. The good news for new borrowers is that these rates have decreased by one-half a percentage point from 2015-2016. Also, the interest rate will remain fixed for the life of the loan. For more info, visit the Federal Student Aid website from the US Department of Education.
New Interest Rates
For more info about interest rates on federal student loans, click HERE.
If you’re already in repayment of your student loans and are either worried about your next payment or have already missed one, LSS can help. We offer free student loan repayment counseling to borrowers in repayment. Give us a call at 888.577.2227 for your free and confidential session. Or, if your student loans are okay, but credit cards are dragging down your finances, we can help with that, too. Don’t want to call? No problem: GET STARTED ONLINE when and where it’s convenient for you. We will give you the tools you need to conquer your debt for good and achieve your financial goals.
If you’re not ready for an appointment and just want some information, check out the following posts: What to do if you miss a student loan payment, Is consolidating student loans right for you?, and Struggling with student loans?.