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Federal student loan interest rates are fixed for the life of the loan; however, the rates for new loans will change annually, based on the current market. The interest rates for the 2013–2014 academic year are as follows: 3.86% for undergraduate Stafford Loans (both subsidized and unsubsidized) 5.41% for graduate Stafford Loans [6]
Accrued interest is added to the loan amount, and the borrower makes payments on the total. Students can make payments while studying. Graduate students have higher limits: $8,500 for subsidized Stafford and $12,500 (varying by course of study) for unsubsidized Stafford. For graduate students, the Perkins limit is $6,000 per year.
Federal Perkins Loan. A Federal Perkins Loan, also referred to as a Perkins Loan, was a need-based student loan offered by U.S. Department of Education from 1958 until 2017. [ 1] Created as part of the Federal Direct Student Loan Program, the Perkins Loan served to assist American college students fund their post-secondary education.
Interest rates on federally subsidized Stafford student loans doubled as of July 1, and since then, Congress has tried to pass a student loan bill that would give students and parents some relief ...
The rate on subsidized Stafford loans -- the. Getty Images By Susannah Snider Whether you're taking out a federal student loan or entering repayment, get up to speed on these five changes to the ...
The fixed interest rate on federal student loans will climb to 6.53% for undergraduate loans — up from 5.5% last year. The new higher rate applies to Federal Direct Stafford loans for ...
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