Loan deal offers students better deals _ for nowAugust 9, 2013 @ 12:32 am
(AP) - Under a new law governing student loans, interest rates would be linked to the 10-year Treasury note plus an added percentage. A look at those rates:
Undergraduates who take subsidized and unsubsidized Stafford loans would pay the rate of the 10-year Treasury note, plus 2.05 percent. That would put the interest rate at about 3.9 percent this fall. Rates would be capped at 8.25 percent.
Graduate students would borrow at the interest rate of the 10-year Treasury note plus 3.6 percent. That would mean 5.4 percent interest rates for borrowers this fall. Rates would be capped at 9.5 percent.
PARENTS, SOME GRADUATE STUDENTS
Parents and some graduate students would borrow at the 10-year Treasury note rate plus 4.6 percent. That works out to a 6.4 percent interest rate for the fall term. Rates would be capped at 10.5 percent.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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