Restructuring Student Loans - The Real Picture of Student Loans

- August 17, 2010, 6:31 am

By Sheila Danzig -   As of July 1st, 2010, college students have experienced certain changes in their financial assistance packages. These changes are developed to improve education in terms of the accessibility and affordability factor. The US government has decided to take a number of measures meant to accomplish this, counting:

o Federal loans currently feature lower decreased interest rates. Since July 1st, the interest rate on these loans went down to 5.6 percent from 6.0 percent. The government has decided to decrease the interest rates reduced each year, finishing at a final low of 3.4 percent in 2011. Additionally, students who gained Stafford loans before July 1, 2006 qualify for an interested rate reduction of 1.7%.

o Student loan repayments will be

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