If I am a new student applying for a loan, I have one in 1st rate hike from July to worry?
I have never applied for a loan and will start school soon. Should we hurry up and apply to my loan before 1 July in a better interest rate, I got the light on the news?
March 8th, 2010 at 3:49 am
It’s not worth worrying about. Unfortunately, this 6.8% Stafford interest rate will apply to you and all students beginning school after July 1st. Applying sooner won’t matter because the rate applies to all Stafford Loans “first disbursed after July 1st” and your school cannot legally disburse your loan until a few days before classes start. So unless your classes are beginning before July 1, there is no way to obtain the lower rate that students got last year.