July 1 Brings Lower Interest Rates on New Federal Student Loans
July 1 is an important date for students and families: it’s when most changes to federal student aid – both loans and grants – go into effect. For the year starting July 1, 2015, new federal loans for undergraduates, graduate students, and parents will have lower interest rates than loans taken out the year before, and the maximum Pell Grant will be higher. To help inform college borrowing decisions, The Institute for College Access & Success (TICAS) has a new easy-to-read chart with 2015-16 interest rates, loan amounts, and other useful information for the most common types of federal loans.
