Congress Approves Interest Rate Freeze Until July 2013
Have you heard the latest news from Washington D.C.? Congress has approved of the freeze on interest rates for federally-subsidized student loans at 3.4% (for loans disbursed between July 1, 2012 and June 30, 2013) until July, 2013. The measure passed the House by a 373 to 52 vote, and was approved by the Senate by a 74 to 19 vote.
An Additional Change: - For Direct Subsidized Loans disbursed between July 1, 2012 and July 1, 2014, the interest rate subsidy has been eliminated for the six-month grace period after graduation.
Publication Date: July 2012
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