- Joined
- Mar 5, 2014
- Messages
- 4,974
- Reaction score
- 1,047
- Gender
- Male
- Political Leaning
- Undisclosed
I thought I would check on the current interest rates reported for student loans. This is what I found.
https://studentaid.ed.gov/about/announcements/interest-rate
These rates appear to be different from the 8.5% rate you've posted. Why is the rate you're showing higher than what I see in the table?
I had posted earlier the rate range that you posted. In addition, there is a certain type of loan that a parent might take out to, for example, send their kid to medical school, or a graduate student. It is called a Federal Plus loan and that rate is a whopping 8.5% regardless of creditworthiness. That is a 6 percent spread over the highest rate the the government borrows money. It is gouging, no doubt about it.
https://studentaid.ed.gov/types/loans/interest-rates