Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW: Federal Student Loan Rate Bill Expected To Be Signed Today
WASHINGTON (8/9/13, UPDATED 11:50 a.m. ET)--It is expected that President Obama will sign a bill this afternoon that will lower the federal student loan rate to 3.86%, for direct loans for undergraduate students, after it shot up to 6.8% in July.
 
The bill, known as the Bipartisan Student Loan Certainty Act, passed the U.S. House a little more than a week ago and was approved by the Senate a week before that.
 
The legislation ties federal student loan interest rates to the 10-year Treasury note. Individual rates will be locked in for the life of the loan. Students and their families will be protected from sharply increasing interest rates.
 
The bill does not affect private student loan rates.


RSS print
News Now LiveWire
Breaking at #NewsNow: Matz to request revised RBC proposal, new comment period http://t.co/eLtYmzXRWn
15 hours ago
#NewsNow: Oct. 22 webinar will explore role of CDFI #creditunions. http://t.co/op1GV4mrYM
19 hours ago
CFPB announces $10M fine,$27.5M restitution v. Mich.-based Flagstar Bank for allegedly illegally blocking borrowers’ attempts to save homes.
19 hours ago
#NewsNow: Proposed MLA changes could restrict CU payday alternative loans. http://t.co/eKqtyMHD0P
19 hours ago
44 #creditunion professionals earn Development Educators designation #NewsNow http://t.co/GG551ofq31
20 hours ago