Student Loan Interest Rates
Drop Again
May 28, 2004 - Effective July 1, the interest rate
on federal Stafford student loans will drop to 3.37 percent,
down from the current 3.42 percent. For borrowers who are
still in school or within their six-month grace period, the
rate will be even lower at 2.77 percent. This rate covers
Stafford loans issued since July 1, 1998. The rate changes
every year on July 1, and is based on the rate for the 91-day
T-Bill at the last auction in May, plus 2.3 percent. The new
rate will cover all Stafford loans issued through June 30,
2005.
Information:
Jonathan Fishburn, Director, Research, Education and Veterans' Legislative Affairs
AAMC Government Relations
jfishburn@aamc.org
(202) 828-0525
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