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Federal Student Loan Interest Rates Set to Increase for 2021-2022

After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.(1) The interest rates on federal student loans are reset each year after the May auction of the 10-year Treasury note.

The rates apply to new federal student loans issued on or after July 1, 2021, through June 30, 2022. The interest rate is fixed for the life of the loan.

Federal Student Loan Borrowers Get Some Relief Due to COVID-19

On March 20, 2020, the Department of Education announced terms for student loan relief for tens of millions of borrowers in response to COVID-19. Here are answers to some questions about the new rules. For more information  and to follow subsequent potential rule modifications, visit the federal student aid website.

ABCs of Financial Aid

ABCs of Financial Aid

These days, it's hard to talk about college without mentioning financial aid. Yet this pairing isn't a marriage of love, but one of necessity. In many cases, financial aid may be the deciding factor in whether your child attends the college of his or her choice, or even attends college at all.

Major Federal Financial Aid Programs

Loans

The main federal education loans are the Direct Subsidized Stafford Loan, the Direct Unsubsidized Stafford Loan, the Direct PLUS Loan, and the Perkins Loan. Federal education loans generally offer more generous repayment options than private student loans.

Direct Stafford Loans

How to Save for College

Learn effective strategies to help pay for the high costs of higher education.