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Interest rate on new federal student loans for undergraduates during the upcoming 2024-25 academic year will be the highest in 12 years.
The federal student loan interest rate will be 6.53% for undergraduate students, up from 5.5% for the current year. The interest rate has not been that high on any undergraduate loans since the 2012-13 school year.
Graduate students will see an 8.08% interest rate this coming academic year, up from 7.05%. And PLUS loans, which are available to both parents and graduate students, will come with a 9.08% interest rate, an increase from 8.05%.
maybe kids and parents will stop throwing money away on useless degrees and expensive out of state schools they can’t afford.
there are lots of ways kids can pay for school , but i don’t know of one loan the parents can take to fund their retirement or inability to work longer.
many kids and parents have been totally irresponsible when it comes to college
of course those that were responsible for making good decisions about schools and debt get nothing while poor choices get rewarded
I've read first-person accounts of middle-of-the-pack students in middle-America who go to some local private liberal arts college with absolutely no plan and no awareness of the implications of borrowing a butt-load of money for tuition/room/board. They somehow have in mind they will return to their home town that has limited economic opportunities, and that somehow everything will work out OK.
I shake my head.
As a 16 year old high school senior, I was laser focused on objectives and the costs, constantly weighing one against the other and agonizing over the financial implications of borrowing money.
I've read first-person accounts of middle-of-the-pack students in middle-America who go to some local private liberal arts college with absolutely no plan and no awareness of the implications of borrowing a butt-load of money for tuition/room/board. They somehow have in mind they will return to their home town that has limited economic opportunities, and that somehow everything will work out OK.
I shake my head.
As a 16 year old high school senior, I was laser focused on objectives and the costs, constantly weighing one against the other and agonizing over the financial implications of borrowing money.
I've read first-person accounts of middle-of-the-pack students in middle-America who go to some local private liberal arts college with absolutely no plan and no awareness of the implications of borrowing a butt-load of money for tuition/room/board. They somehow have in mind they will return to their home town that has limited economic opportunities, and that somehow everything will work out OK.
I shake my head.
As a 16 year old high school senior, I was laser focused on objectives and the costs, constantly weighing one against the other and agonizing over the financial implications of borrowing money.
Yes, that's crazy. If I wanted to borrow $100K from a bank to start a small business, they would require a solid business plan and then conduct a financial rectal exam to ensure I was a good credit risk. But borrow $100K to go to an out of state school to "find yourself" while earning a degree in underwater basket weaving - no problem. Crazy.
Yes, that's crazy. If I wanted to borrow $100K from a bank to start a small business, they would require a solid business plan and then conduct a financial rectal exam to ensure I was a good credit risk. But borrow $100K to go to an out of state school to "find yourself" while earning a degree in underwater basket weaving - no problem. Crazy.
i found myself when i was a teenager and that was free. ha ha
i found myself when i was a teenager and that was free. ha ha
I did too, but it wasn't free. Beer was cheaper back them, but still.
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