by Steve Blank <steve@[EMAIL PROTECTED]
>
Jul 17, 2007 at 02:15 PM
All Stafford loans made before 7/1/06 were at a variable rate that is
adjusted each July 1, based on the treasury bill rate at the end of May.
The current rate as of 7/1/07 is 7.22%. Some years ago they were about
half that, and years before that they were higher than now.
All new Stafford loans made after 7/1/06 are a fixed rate of 6.8%
Steven B. Blank
College Financial Aid Consultants
29 Ives Hill Court
Che****re, CT 06410
(203)250-7761
hurricane_number_one@[EMAIL PROTECTED]
said the following on 7/17/2007 1:29 PM:
> I just received my latest Sallie Mae payment booklet. The interest
> rates have more than doubled from the original interest rates on my
> loan. I was under the impression that this was a fixed rate loan? I
> thought it was dictated by the federal government that student loans
> are fixed rate? How can they increase the rate on me? I now owe more
> money then I originally agreed to. What can I do?
>
