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Interest Rate on F.C Loans Is About to Hit a Record Low

Interest Rate on F.C Loans Is About to Hit a Record Low

4 years agoBy Dr Taylor Macintosh0 Comments

The coronavirus maybe upending the way colleges operate, but at least students and their families will get a break if they borrow money from the government for education.

The interest rate on new federal student loans for undergraduates will fall to a record low this summer. Those students will pay a rate of 2.75 percent on loans for the coming academic year, down from 4.53 percent last year. It has been 15 years since rates near that low were available, according to Mark Kantrowitz, publisher of Savingforcollege.com.

Over a 10-year repayment period,...

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