Increase in student loan interest rate

Student loan interest rate is the interest rate used by the federal government to determine how much students will pay back. The current rate is 6.8% and will increase on July 1, 2013 (unless Congress acts to keep it at 3.4%).

Going to college is expensive, but it’s a critical part of your child’s education journey. However, the cost of college continues to rise, making it more and more difficult for you to plan for your child’s future. Maybe you’ve even looked at using a student loan to help pay for college costs; however, the interest rates on student loans can be high and varied. Your best option is to use an online calculator when determining how much you can borrow.

Federal student loan interest rates changed July 1, 2013 and are now based on the 10-year Treasury Note. This is an increase of 1 point over last year, making the interest rate on subsidized loans 4.66%. To understand what this means, let’s look at some student loan management basics first. A few years back, the Federal Government created two types of student loans: subsidized and unsubsidized. Subsidized loans were intended to assist students in need of financial aid while unsubsidized loans were available to all students. Currently, undergraduate students can receive up to $5,500/year in subsidized loans while graduate students can receive up to $8,500/year.

Is your student loan interest rate set to increase this summer?

Congress has finally extended the lower interest rate on Federal subsidized and unsubsidized undergraduate Stafford loans. The 3.4% interest rate will remain in effect for subsidized and subsidized before July 1, 2015, and the 6.8% fixed rate will remain in effect until July 1, 2015, when it will increase to 7.9%.

When Republicans pushed to increase the student loan interest rate from 3.4% to 6.8%, they probably thought this was a good idea. But not everyone agrees with them. The problem is that people are really worried about the increasing costs of education, so Democrats in Congress disagree with the change…and would prefer a lower rate.

How to reduce your student loan interest rate

Introduction: You’re about to pay a lot of money for that new college degree. But you don’t have to wait long to start taking on student loan debt. In fact, there are ways to reduce your interest rate before it starts eating away at your budget. Here are three tips:

What is the interest rate on student loans.

The interest rate on student loans varies depending on the type of loan and the term for the loan. The interest rate for Perkins Loans, Stafford Loans, and Direct Loans are all fixed at 7.4%. On the other hand, the interest rate for PLUS Loans and Graduates Loans is Variable (the interest rate can change based on your credit score). To reduce your student loan interest rate, you’ll need to find out what the current interest rate is and compare it to a potential new loan or product. You can also use a loan calculator to help lower your monthly payments by choosing a lower term or lowerinterestrate.

How to Find and Compare Student Loan interest rates.

To find out what types of loans have different interest rates, visit one of several websites that specialize in student loans: or use a loan calculator like Rate Advisor. Rates vary by lender, so it’s important to do your research before making any decisions. Additionally, some lenders offer customer service that can help you look for a better deal on your loans.

Reduce Your Student Loan Interest Rate by Using a Loan Calculator.

Use a loan calculator to reduce your monthly payments on student loans by choosing a lower term or lowerinterestrate terms from among available options. By using a mortgage calculator or another online tool, you can get started on reducing your monthly payments as quickly as possible without having to go through multiple lenders.

Reduce Your Student Loan Interest Rate by Using a Loan.

There are many different types of loans available for students, so it’s important to find the one that is right for you. You can reduce your interest rate by using a loan that is tailored specifically for you. Additionally, negotiate a lower interest rate with the lender. Apply for a loan in a few easy steps, and be sure to keep track of your repayment terms so you know what you can afford to pay back each month.

Reduce Your Student Loan Interest Rate by using a Loan Calculator.

To find the best loan for your needs, use a loan calculator. This tool can help you find a loan that is right for you and fits your budget. You can also explore different interest rates to find the one that’s best suited for your needs.

Negotiate a Lower Interest Rate.

Negotiating a lower interest rate on your student loans is one of the most important steps you can take to reduce your interest payments on them. If you can find a loan with a lower interest rate, it will save you money in the long run.

Apply for a Loan in a Few Easy Steps.

Apply for your student loan in just few easy steps using our online application form or by calling our customer service number. We’ll help make applying for a student loan as simple and straightforward as possible so that you can focus on enjoying university and not worrying about making monthly mortgage payments).


Using a loan calculator can help you reduce your student loan interest rate. By using a loan calculator, you can find a loan that is right for you and negotiate a lower interest rate. Apply for a loan in a few easy steps and get started on reducing your student loans interest rate today!

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