Imagine that!
The rates are set annually and are based on the 10-year Treasury note auction held every May. The increase isn’t a total surprise since the Federal Reserve has kept the nation’s benchmark interest rate at a 23-year high as it waits for inflation to cool.
The Biden admin has a new student loan repayment plan, known as SAVE (Saving on a Valuable Education), could make it easier for current and future borrowers to pay off their federal student loan debt, despite the interest rate hike.
Launched last year, the income-driven repayment plan can lower monthly bills for enrolled borrowers and reduce the amount they pay back over the lifetime of their loans.
Plus, unpaid interest will not accrue as long as the enrolled borrower makes a full monthly payment. That means that a borrower’s balance won’t increase even if the monthly payment doesn’t cover the monthly interest.
Mine was 9%.
I ABSOLUTELY object to writing off student loans, but I have always thought these should be interest-free.
MAKES NO DIFFERENCE!!!!
BIDEN is forgiving loans as fast as they are granted.
ALL of it an exercise in accounting.
[[Federal student loan interest rate will rise]]
Bahahahahaha- Interest rates on loans? WHAT loans? Weren’t they all illegally forgiven by obiden?
the interest rate doesn’t matter one whit
if Biden gets away with giving away our tax money by “forgiving” loan repayments
The Feds have no businees in being in the student loan business. Transfer the loans to a “real bank”...by lottery...and stop this cr**.
Who cares, just wait until the govt pays it off for you.
When US taxpayers (who never went to college!) actually pay the bill, of course the interest rate is going to go up.