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Pennsylvania

JPZenger

(6,819 posts)

11. Federal loan subsidies will end for grad and prof loans, undergrad loans double to 6.8%

Reply to blue neen (Reply #10)

Thu Feb 9, 2012, 03:04 PM

Feb 2012

In July, unless congress acts, all new undergrad federally subsidized stafford loans will double in the interest rate - to 6.8%.

After July, federal subsidies of loans will no longer be available for graduate and professional school students. As a result, the interest will start to accumulate almost immediately. Currently, the federal government pays the interest for the first $X of loans while a student in in school.

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