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Loan Rates Stabilized

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Loan Rates Stabilized

Interest rates on student loans have stabilized for the moment, although nothing is official yet. The rate break on subsidized loans expired on July first with interest jumping to six point eight percent. Congress then brokered a deal to lower those rates. Julie Pier is the Director of Financial Aid at the University of South Dakota…

Pier says they are working on some interest rate assumptions…

She says borrowers don’t have to do any additional paperwork as the rates will be set retroactively. Pier says they have not seen much change in the number of students looking at financial aid…

She says over sixty percent of students enrolled at USD use at least some type of student loan.

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