Federal Direct Student Loans: 2013-14 Interest Rates
August 13, 2013
During an Oval Office ceremony, President Barack Obama on Friday signed into law the student loan interest rate deal, under which interest rates will be based on the 10-year Treasury bill.
The act, which Congress passed July 31, sets interest rates for 2013-14 Federal Direct Student Loans at:
In addition, it includes caps:
Loans will be “variable-fixed,” meaning students would receive a new rate with each new loan, but then that rate would be fixed for the life of the loan.