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Students in field

Student loan interest rates fall to lowest levels in a decade

June 13, 2016

College student smiling in classroom.

In mid-May the National Association of Independent Colleges and Universities published the following story on student loan interest rates, which have been dropped to the lowest they’ve been in 10 years.

“This is great news for our students and their families,” Director of Student Financial Services Sandy Turnquist said. “We watch these rates carefully because we know this will affect the day-to-day lives of many students.”

NAICU Washington Update

Originally Published on May 16 at naicu.edu

Borrowers taking out federal loans for the 2016-17 academic year will see the interest rates on those loans drop half a point to their lowest levels in a decade. Interest rates on Stafford and PLUS loans:

  • Stafford undergraduate loans will drop to 3.76 percent from 4.29 percent.
  • Stafford graduate loans will drop to 5.31 from 5.84 percent.
  • PLUS loans will drop to 6.31 percent from 6.84 percent.

Rates are tied to the high yield of the 10-year Treasury note at the most recent auction prior to July 1, plus a fixed percentage. This year that yield was 1.71 percent.

Read the full story at naicu.edu.

Questions? Contact Finlandia University’s Financial Aid staff

Michelle TannerCoordinator of Student AccountsFinlandia Universitymichelle.tanner@finlandia.edu906-487-7210
Sandra Turnquist
Sandra TurnquistDirector of Student Financial ServicesFinlandia Universitysandra.turnquist@finlandia.edu906-487-7240

 

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