Federal Grant Changes
Click here to read about certain federal grant changes.
Federal Loan Changes
Click here to read about certain federal loan changes.
Stafford Student Loan Interest Rates for Loans Disbursed July 1, 2012 - June 30, 2013
The interest rate for Federal Direct Stafford Loans disbursed on or after July 1, 2012 and before July 1, 2013 will be 6.8%, EXCEPT Federal Direct Subsidized Stafford Loans for undergraduate students, the interest of which will be 3.4%, as per legislation signed into law at the end of June 2012.
Student Loan Terms Changing for 2012-2013
Acts of Congress have changed terms for student loans in four major ways beginning in 2012-2013.
1. Graduate level students will no longer be eligible for Federal Subsidized Stafford Loans for periods of enrollment beginning on or after July 1, 2012. (Budget Control Act)
2. Federal Stafford and PLUS Loan fees remain 1% and 4%, respectively, but rebates will no longer be available for loans first disbursed on or after July 1, 2012. (Budget Control Act)
3. The interest rate for all Federal Stafford Loans is set to 6.8% effective for loans disbursed on or after July 1, 2012: undergraduate subsidized loans will no longer be set at the lower rates. (College Cost Reduction and Access Act)
4. Federal Subsidized Stafford Loans will no longer be subsidized during the grace period, which is the six months following graduation or otherwise stopping at least half-time enrollment, for loans disbursed on or after July 1, 2012. (Consolidated Appropriations Act, 2012)
This page was last modified on July 9, 2012.
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