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Tip of the Week

June 15, 2022

Interest rate information updated

Interest rates may not be on student loan borrowers' minds too much right now - especially with the temporary implementation of zero percent interest on federally held student loans. However, borrowers will still want to consider the impact of interest on repaying the loans in the future.

Mapping Your Future staff have updated the counseling sessions, interest rate chart, Direct Loan entrance counseling presentation, and the website to reflect the interest rate change on Direct Subsidized Loans and Direct PLUS Loans disbursed on or after July 1, 2022 as listed in the May 24 Electronic Announcement.

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

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 in the Member resources section of the secure Access Area.

Variable interest rates for older Federal Stafford, Federal Parent Loan for Undergraduate Students (PLUS), Federal Supplemental Loans for Students (SLS), and Federal Consolidation Loans can be found in the June 14 Electronic Announcement.

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

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Mapping Your Future^®, Inc.
P.O. Box 1017, Lake Dallas, TX 75065
(800) 374-4072