Sunday, January 17, 2021
Home > News > Students headed to college in the fall will pay less on their college debt

Students headed to college in the fall will pay less on their college debt

image_pdfimage_print

Rates for college loans decline

On the upside, students headed to college in the fall will pay less on their college debt.

Based on an earlier auction of 10-year Treasury notes, the interest rates on federal student loans taken out during the 2020-21 academic year are at an all-time low.

For those already struggling with outstanding debt, the CARES Act offered even more relief by pausing payments on federal student loans until the end of September.

Student borrowers with private loans can benefit as well.

Although federal loans are fixed, private loans may have a variable rate tied to Libor, prime or T-bill rates, which means that when the Fed holds rates down, those borrowers will likely pay less in interest, depending on the benchmark and the terms of the loan.

Share Button
Pls SUBSCRIBE below to our Youtube channel and mailing list to get fresh updates on money making and inspiring videos and articles.
READ  Gold skyrockets to record high as virus fears lift safe-haven demand
Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
http://www.money247.com.ng

Leave a Reply

Your email address will not be published. Required fields are marked *