should I play devil’s advocate?
Stafford Loan
The interest rate on Stafford loans first disbursed beginning July 1, 2008:
Subsidized Stafford loans for undergraduate students has a declining fixed interest rate.
July 1, 2008–June 30, 2009 the interest rate is 6%.
July 1, 2009–June 30, 2010 the interest rate is 5.6%.
July 1, 2010–June 30, 2011 the interest rate is 4.5%.
July 1, 2011–June 30, 2012 the interest rate is 3.4%.
Beginning July 1, 2012 the rate is 6.8%.
Subsidized Stafford loans for graduate and professional student and all unsubsidized Stafford loans is 6.8%.
The interest rate on Stafford loans first disbursed beginning July 1, 2006 is fixed at 6.8%.
The interest rate on Stafford loans first disbursed on or after July 1, 1998 but before June 30, 2006 is variable. and may change on July 1 of each year but will never exceed 8.25%. The rate is based on:
The 91-day T-bill rate + 1.70% during in-school, grace, and deferment periods.
Starting July 1, 2008 the interest rate on variable rate loans is 3.61%.
The 91-day T-bill rate + 2.30% during repayment periods.
Starting July 1, 2008, the interest rate on variable rate loans is 4.21%.
Naw just tell him to use a credit card.
Ok then. out.
Don’t borrow a dime from Sallie Mae.
The worst company I have ever dealt with in my life.
I refinanced all mine through Citi, and Great Lakes. Great lakes is affiliated with citi, but they give you a little lower rate.