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Federal student loan interest rates highest in more than a decade

Posted on AllSides May 14th, 2024
From The Center

The Department of Education announced Tuesday that federal student loan interest rates for the 2024-2025 school year hit 6.53 percent, up from 5.5 percent the previous year. Higher education expert Mark Kantrowitz told CNBC the new undergraduate interest rate is the highest it has been in a decade. Graduate student loans hit 8.08 percent, up from 7.05 percent the previous year and the highest in 20 years, Kantrowitz said. Parent plus loans have earned the highest interest rate at 9.08 percent, beating the 8.05 percent from before. President Biden has...

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