Earlier this week, President Obama issued a Presidential Memorandum expanding the Pay-As-You-Earn Repayment (PAYER) plan to more borrowers in the federal government’s Direct Loan program. Most borrowers who currently use Income-Based Repayment (IBR) will be able to move their loans to PAYER.
This month we received an important question about the upcoming interest rate increase on Federal student loans:
Question: I’ve heard that the interest rates on Federal education loans will be increasing on July 1, 2014. What will the new rates be? Can I somehow lock in the current lower interest rates?
After scrutinizing your financial aid package, you may find that you have come up a little short on funds. In that case, make sure you know what to look for in a private student loan.
Here are some tips to help you compare your options:
This monthly section of Financial Aid News features an intriguing list of seven scholarships that share a common characteristic. We hope this section will make you smile and inspire you to apply for more scholarships.
Seven Late-Deadline Scholarships
Starting this month and all through the summer, ScholarshipPoints.com is giving away a scholarship each week with drawings every Monday, along with the quarterly $10,000 scholarship. To enter, simply log in to your account and spend your points on these drawings before midnight Pacific on the date indicated:
Watch for our notification emails to see if you are a winner!
What is the projected average student debt for 2013 graduates?
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