New Student Loan Interest Rate Set To Increase On July 1

Susan Darwin
June 29, 2018 - 10:20 am
Student Loans

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As if college isn't expensive enough, new reports say the cost of federal student loans is going up.

Starting July 1, the Federal Government will raise interest rates on new undergraduate loans from 4.45 percent to 5.05 percent.

Reports say interest rates on Parent Plus loans will also increase, from 7 percent to 7.6 percent.

The increase doesn't affect exisiting loans.