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Is that 7.5% interest rate standard? Is it high because of the risk inherent in young adults being unable to service the loan?
by prawn 9y ago
Is that 7.5% interest rate standard? Is it high because of the risk inherent in young adults being unable to service the loan?
- djrogers 9y agoThere is basically no risk, they are government guaranteed and can't be defaulted on.
- callalex 9y agoThat's the standard rate for the "federal non subsidized stafford loan"
- thatwebdude 9y agoFor a specific bracket (time attended, and level of education). Most undergrads are facings rates half of that. Can you refinance? https://www.edvisors.com/college-loans/federal/stafford/interest-rates/ https://www.edvisors.com/college-loans/federal/stafford/inte...
- Teknoman117 9y agoI've been looking into it. Wanted to wait until I held my current job for a year so that I could get a better interest rate.
- FT_intern 9y agoNo I think it depends on when you went to college. IIRC, it was 7.5% for 2006-2008 and was around 3.8-5.0% in 2010 - 2015