Will student loan interest rates go up july 1, 2007?
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Student loan interest rates are apparently based on the 91 day t-bill for the end of may, does anyone know if this is going to make the rates go up on July 1, 2007? or will the decrease? I have been out of school for about 6 months and have been waiting to see if I could get a lower interest rate after july
Will student loan interest rates go up july 1, 2007?well, Bush proposed for interest rates ono student loans to go down each year. I doubt seriouls they will every be as low as 3 percent. Remember someone has to pay for this war.
Will student loan interest rates go up july 1, 2007?Unfortunately we won't know exactly what the Federal Student Loan interest rate is going to do until July 1st. The interest rate is based off the federal T-bill, as July 1st approaches you will be able to get a better idea of what the interest rate may do, but of course, won't know until that actual date.
It concerns me that you have been out of school for 6 months already, which would possibly indicate that you are close to your Grace period ending. While in Grace/Deferment you have a .6% lower interest rate, than when you convert to Repayment status, which raises your interest rate .6%.
As of right now all economic indicators are showing a possible increase of interest rates. You can take the chance of waiting to see if interest rates will decrease or hold to what they are currently, but I would hate to see the rates increase on you and you have to suffer through paying more money in interest over the life of your loan. For more information on current interest rates for Federal Student Loans please visit the source below.
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