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Direct Loan Interest Rate Change

08/30/2013, 04:28 PM

Attention Student Loan Borrowerers,

 

On August 9, 2013, President Obama signed into law the Bipartisan Student Loan Certainty Act of 2013.  This Act changes the calculation on how future interest rates are determined for your federal direct subsidized, unsubsidized, Parent or Grad PLUS loans that you or your parent borrow after July 1, 2013. 

 

For any loans disbursed after July 1, 2013, your interest rate will be the following:

 

Direct Subsidized Loan

3.86%

Direct Unsubsidized Loan (undergraduate)

3.86%

Direct Unsubsidized Loan (graduate)

5.41%

Direct Parent PLUS or Graduate PLUS

6.41%

 

For more information regarding federal student loan eligibility, please visit our website at http://www.centenarycollege.edu/cms/en/financial-aid/federal-and-state-aid/loans/ If you have any questions regarding your financial aid, please contact the Financial Aid Office at Finaid@centenarycollege.edu or 908-852-1400 ext 2350.