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Changes to student loans in August: SAVE interest rates are back
A major change is coming to student loans. At the beginning of August, around eight million borrowers will once again see interest accrue on their loans, as more than a year of relief provided by the Biden administration’s Save a Valuable Education (SAVE) plan comes to an end.
Let’s say, for example, that you owe $30,000 on a loan with an 11% interest rate on a 10-year term. If you’re able to refinance to a 7% rate, you’d save $7,791 on interest charges over 10 ...
The average interest rate on 10-year fixed-rate private student loans inched down last week. For borrowers pursuing private ...
Student loan interest rates vary depending on the type of loan, level of education and year when the loan is disbursed. Since 2013, the interest rate on new federal student loans has ...
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