Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW: Federal Student Loan Rate Bill Expected To Be Signed Today
WASHINGTON (8/9/13, UPDATED 11:50 a.m. ET)--It is expected that President Obama will sign a bill this afternoon that will lower the federal student loan rate to 3.86%, for direct loans for undergraduate students, after it shot up to 6.8% in July.
 
The bill, known as the Bipartisan Student Loan Certainty Act, passed the U.S. House a little more than a week ago and was approved by the Senate a week before that.
 
The legislation ties federal student loan interest rates to the 10-year Treasury note. Individual rates will be locked in for the life of the loan. Students and their families will be protected from sharply increasing interest rates.
 
The bill does not affect private student loan rates.


RSS print
News Now LiveWire
Don't Mullet Over: Check out @ECCU1's meme-rable campaign that brought in $8M in loans #NewsNow http://t.co/vNh2q01gcg
2 hours ago
#FOMC minutes show committee members debated erasing 'considerable time' from forward guidance #NewsNow #Market http://t.co/Gw0bEIFCe2
4 hours ago
NCUA votes 2 to 1 to approve 2015 budget: McWatters is dissenting vote.
5 hours ago
.@TheNCUA bd mmber McWatters at #NCUAbdmeeting invited specific, detailed comments on budget/budgetary process to be sent directly to him.
5 hours ago
Next year bd member McWatters wants CU community to see agency budget items at least 2 weeks before any budget hearing.
5 hours ago