Federal Student Loan Interest Rates to Hit Record Lows for 2020 to 2021 School Year

New federal student loan interest rates are here for the 2020 to 2021 school year.

Undergrads will borrow at:

2.75% (for Stafford Subsidized loans)
4.30% (for Stafford Unsubsidized loans)

Graduate students will borrow at:

4.30% (for Stafford Unsubsidized loans)
5.30% (for PLUS loans for expensive programs)

Parents will borrow at:

5.30% (for Parent PLUS loans) for children’s undergraduate education.

The only good reason to take out private student loans next year is if you don’t have a cosigner:

https://www.studentloanplanner.com/private-student-loans-without-cosigner/

Also if you want a plan for how to finance your education next year and what it will cost, check out our pre-degree student loan planning service: https://www.studentloanplanner.com/predebt-student-loan-plan/