New Stafford Loans decrease to 6% effective 7-1-08
New rate schedule follows:
| First disbursement of a loan: | Interest rate on the unpaid balance |
|
|---|---|---|
| Made on or after | And made before | |
| July 1, 2008 | July 1, 2009 | 6.0 percent |
| July 1, 2009 | July 1, 2010 | 5.6 percent |
| July 1, 2010 | July 1, 2011 | 4.5 percent |
| July 1, 2011 | July 1, 2012 | 3.4 percent |
The above chart is for subsidized loans only; unsubsidized Stafford Loans remain at 6.8%.
