Newsroom

Helping your students be aware of interest rates on student loans

By Beth Ziehmer

June 14, 2017

Students seeking a college education may perceive that interest rates are just a small part of financing an education. But we all know that interest rates can have a huge impact on how quickly the student loan debt grows. Therefore it's important that students be aware of their interest rates, especially as they move into repayment and manage finances after college.

Mapping Your Future staff have updated the counseling sessions, interest rate chart, and the website to reflect the interest rate change on Direct Subsidized Loans and Direct PLUS Loans disbursed on or after July 1, 2017.

Updates were made to the following counseling sessions:

• Direct Loan entrance (English and Spanish)
• Direct Loan and Perkins combined entrance
• Direct PLUS entrance
• Direct Loan and Direct PLUS combined entrance

Staff also updated the current interest rate for loans with an 8.25% cap that were first disbursed between July 1, 1998 and June 30, 2006.

Updates also were completed on the Direct Loan and Stafford Loan interest rate chart and printable Student Loan Interest Rate chart covering Direct Loan, Direct PLUS, and Perkins Loan interest rates. The printable chart is available on the Documents on-demand page, as well as in the Member resources section of the secure Access Area.

Contact the Mapping Your Future staff with questions at feedback@mappingyourfuture.org or (800) 374-4072.