2010-2011 Federal Student Loan Interest Rates

Hello folks! In our rush of excitement over the passing of SAFRA, we forgot to blog about this year’s federal student loan interest rates.
Here is the complete listing, all in one place for convenience:
Undergraduate

Unsubsidized Direct Stafford Loan: 6.80% APR
Subsidized Direct Stafford Loan: 4.50% APR

Graduate

Unsubsidized Direct Stafford Loan: 6.80% APR
Subsidized Direct Stafford Loan: 6.80% APR
Direct Graduate [...]

A Handy Dandy Federal Direct Loans Guide!

Hi readers! If you’re confused by the federal Direct Loans switchover currently in progress, you’ll be happy to know that we’ve put together a guide to the steps required to apply for and receive federal direct loans.
Download the Direct Loans Guide PDF »

You will need Adobe Reader (or other PDF software like Apple Preview) to [...]

Were your Stafford loans enough?

Seeing as it is the end of June, most of you have received your financial aid award letters and know what your federal loans look like for the upcoming academic year.
So, did you receive enough money in Stafford loans? Keep in mind that there are annual limits for each category (subsidized and unsubsidized) and you [...]

Ready for a rate cut? One’s coming in July!

As you can see, it doesn’t sound like much, but it makes a big impact in the long run. Quadruple the savings above and the deal becomes bigger and bigger.

When do I have to repay my Stafford loans?

For recent graduates, repayment can be a touchy word while trying to juggle searching for a job and moving out of school, to put it lightly. It is totally common and expected to be at least a little nervous about the process, as you likely have not had a financial obligation like this before.
Stafford loans [...]

Have Stafford loans with a FFEL bank?

If you do, there are planned changes going into effect as of July 1, 2010 that you should know about.

Exit Counseling: What repayment plan should I choose?

Graduating seniors, listen up! In order to walk with your class at Commencement, you will need to complete exit counseling for your federal student loans. Let’s go over the various repayment plans so that you are 100% prepared to make the right selection after your exit quiz.
Direct Loan Program Repayment Plans
If your school is a [...]

Stafford Interest Rate Dropping Soon

If you’re going to be a returning or new student as of July 2010, you’ll be happy to know that subsidized Stafford loan interest rates will be decreasing from 5.6% to 4.5% for the 2010-2011 academic year.
If you aren’t familiar with subsidized Stafford loans, they are awarded based on financial need and a student’s expected [...]

What is the max I can get in Stafford loans?

Now that we’re getting close to May, financial aid award packages should be going out in the mail to continuing and new students in the next few weeks. We get a lot of questions in our financial aid forum relating to what the ceilings are per year for federal student loans, so let’s explore the [...]

I go to a FFEL School. What happens next?

If you feel nervous or confused about the student aid changes in the next few months, don’t worry at all. Take a deep, relaxing breath. Let’s walk through exactly what will happen from your perspective, so you know what to expect and what processes might be different going forward when you apply for a federal [...]