https://amp.cnn.com/cnn/2024/05/14/p...-interest-rateWashington
CNN
—
Borrowing to pay for college is about to get more expensive: The interest rate on new federal student loans for undergraduates during the upcoming 2024-25 academic year will be the highest in 12 years.
The federal student loan interest rate will be 6.53% for undergraduate students, up from 5.5% for the current year. The interest rate has not been that high on any undergraduate loans since the 2012-13 school year.
Graduate students will see an 8.08% interest rate this coming academic year, up from 7.05%. And PLUS loans, which are available to both parents and graduate students, will come with a 9.08% interest rate, an increase from 8.05%.
The rates for graduate students and parents have not been as high since before July 2006, when the government started setting fixed rates for student loans. Prior to that, most federal student loans had variable rates.
The higher student loan interest rates will make it more costly for borrowers to pay back their debt – and could cause a problem for President Joe Biden who is working to win over as many young voters as he can before the November election.
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05-16-2024, 05:50 PM #1Registered User
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Federal student loan interest rate will rise to highest level in 12 years
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05-16-2024, 05:54 PM #2Registered User
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People are gonna be paying this off their whole lives lmfao. Robbery.
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05-16-2024, 05:56 PM #3Registered User
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put EVERYONE has to go to college bub.Originally Posted by BigGuyTruth
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05-16-2024, 05:57 PM #4¯\_ (ツ)_/¯
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Third college based thread from OP in the timespan of an hour?
Fuk, he must be really worried he won't be able to afford to send his only child to college...
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05-16-2024, 06:06 PM #5Registered User
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Imagine influencing your child to get into crippling debt just so they can become a brainwashed indoctrinated activist.
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05-16-2024, 06:15 PM #6Registered User
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most people just follow the crowd. in all of my adult years there has been this panic to get kids educated to the max in random crap and off into debt (guaranteed riches though). i have one friend that was over $100k in debt for a history degree and now works at a local welcome center...still paying on that debt.Originally Posted by JayJ350
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05-16-2024, 06:43 PM #7Registered User
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imagine looking down the barrel of $100k in loans and some psychology degree...knowing you'll need to spend another $50k just to get a $70k job. time to find a hubby
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