Graduation May '11, Now enters Sallie Mae! Paying off Loans

[emeraldkity4]

<p>it would depend on when the loans were taken out & whether they have been consolidated.</p>

<p>

Interest rates on Direct Subsidized Loans to undergraduate students will be reduced in annual steps to 3.4 percent by July 1, 2011. The rate beginning July 1, 2010, is 4.5 percent. Interest rates on other Direct Subsidized and Unsubsidized loans issued since July 1, 2006, are fixed at 6.8 percent. New Direct PLUS loans carry rates of 7.9 percent.</p>

<p>If you have a Stafford or PLUS loan issued prior to July 1, 2006, the interest rate will continue to be variable. The rate will be adjusted annually effective July 1, based on prevailing interest rates on short-term government securities.

[Cut</a> the Cost of Borrowing for College](<a href=“http://www.nela.net/borrowers/Pages/cutthecostofcollege.aspx]Cut”>http://www.nela.net/borrowers/Pages/cutthecostofcollege.aspx)</p>