WSJ.com: "Undergraduates looking for ways to fund their college education now have another reason to look into subsidized Stafford loans: Interest rates are dropping.
The current rate on Stafford subsidized loans for the 2009-10 academic year is a fixed 5.6%. But it's expected to drop to 4.5% for the 2010-11 academic year, and to 3.4% for the 2011-12 academic year."
2 comments:
I'm not really sure I understand the logistics of why the rates are due to increase again during the 12-13 school year. Do they expect greater financial hardship then? Either way, it's getting a bit too difficult for students to go to college. This doesn't seem to deter them though. Since college attendance has become a standard instead of the novelty which it once was, if we don't find a way to make up for the increase in demand for material resources needed to run the institutions on a higher level, attendance may become even more difficult to pay for or, the quality may suffer because of it.
This is great to hear of that instrest rates for collage students has drooped and is planing to drop in the coming years. One problem that I see is that the rates are planed to go back up to 6.8% in the 2012-2013 school year which is double what they are the year preceding. Also the amount of money that you can loan is not all that much when you look at the tuition at CMU. I guess that it is a drop in the bucket in the right direction. If they don’t do anything about the rates going back up in 2012 I think that a lot of people will have a lot of hardship. I hope that this cut will help many people be able to go to the schools that they really want to go to.
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