Planning on taking out student loans? On July 1, 2013, subsidized Federal Stafford student loan interest rates doubled from 3.4% to 6.8% in one swoop. Haven’t heard too much about it? That’s because that rate might not ever affect anyone’s loans. Does that surprise you?
Subsidized Stafford loans are typically issues to students showing need. Consequently, only about 26% of all loans issued are through this program. Student loans are usually issued around August or September right before a semester begins. This rate increase will only affect new loans. […]