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New Stafford Loan Interest Rates
Announced
NOTE: ANY NEW LOANS disbursed on or after July 1, 2006,
will retain a fixed interest rate - 6.8 percent for
Stafford loans. This applies only to existing
Stafford Loans disbursed on or after July 1, 1998 and
before July 1, 2006 which carry a variable interest
rate.
Summary of Interest Rate Changes For Loans
Disbursed Prior to July 1, 2006
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2006-07 rate |
2007-08 rate
as of 7/1/2007 |
| Stafford Loan (During Deferment or Grace
Period): |
6.54% |
6.62 % |
| Stafford Loan (During Repayment): |
7.14% |
7.22 % |
Graduates who have older,
variable-rate student loans can still take advantage of
the current lower rate by applying for student loan
consolidation by June 30. Loan consolidation is a
complex topic, so please be informed. Please contact the
Financial Aid Office if you have any questions.
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