Federal Student Loan Interest Rates Surge to Record Levels in 2024-2025
Tuesday, 14 May 2024, 17:49
Overview
The U.S. Department of Education has made a pivotal announcement regarding federal student loan interest rates for the upcoming academic year.
Key Points:
- Record High: Interest rates on federal student loans have soared to the highest levels seen in over a decade.
- Financial Impact: The increased rates can significantly affect the overall cost of college education for students and families.
- Planning Ahead: Borrowers are advised to carefully assess their financial situations and strategize to minimize the impact of rising loan interest rates.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.