7.9%: Interest rate of loans for parents or graduate students
About 2/3 of bachelor's degree recipients borrow money for college, whether from the government or private lenders, according to a Department of Education survey of 2007-2008 graduates. But paying back those loans isn't always easy. While subsidized Stafford loans are available at a 3.4% interest rate, if not temporarily, unsubsidized loans are 6.8%. But that's just for undergraduate students. For parents and graduates students, loans now cost 7.9%. Rates can change depending on decisions in Washington, but with these rates on student loans, be sure to start saving early for high education to see optimal results.
New York Times: "Answering Questions on Student Loan Rates and the Murky
The Project on Student Debt, "Federal Student Loan Amounts and Terms for
Loans Issued in 2012-13," 6/29/2012
Prepared by BlackRock
Delivered courtesy Joel W. Grams, CRPC®, CLTC,
Registered Representative, Financial Planner, 212 Capital Group
38 Main Street Suite 360, Westlake Ohio 44145
(440) 835-4501 Ext 17, firstname.lastname@example.org
The foregoing discussion is general in nature and not intended as specific advice.
New England Financial nor its representatives are engaged in rendering tax,
accounting or legal advice. A qualified professional should be consulted regarding the effect of such considerations on the matters covered in this publication.
For information on New England Financial insurance or other financial products and services, please contact Joel W. Grams, CRPC®, CLTC, Registered Representative, Financial Planner with /New England Financial 38 Main Street Suite 360, Westlake, OH 44145, at (440) 835-4501 ext. 17, email@example.com www.212capitalgroup.com
New England Financial is the registered mark for New England Life Insurance Company (NELICO) Boston, MA 02116. Securities and investment advisory services offered through New England Securities, Corp. (NES)(member FINRA/SIPC) a Registered Investment Advisor. NELICO and NES are MetLife companies. L1012285898[exp1212][OH]