Now that the May Treasury auction has taken place, student loan interest rates for the 2021-2022 school year are set. This year’s yield on the 10-year treasury was 1.684%, up about 1% from a year ago. Since student loan interest rates are fixed markups from the May treasury yield, that means student loan interest rates will go up about 1%…
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Looking for more decision-making tools? Try College Scorecard, the Department of Education’s website designed to help students and families compare the cost and value of different colleges. College Scorecard provides institution-level and field-of-study-level data on everything from admissions rates to post-graduation salaries to status of student loan repayment. How might you use it? Suppose your student is debating between a…
Before your student chooses a college– or starts dreaming of an unaffordable one– here’s some data they need to see. A recent Harris Poll on behalf of CNBC Make It’s “Middle-Aged Millenials” series showed that more than half of older millenials– those aged 33-40– regret taking out student loans. Of 1,000 such adults surveyed, the average amount borrowed was just…
We’re almost there: acceptance letters are arriving and the May 1 decision day is right around the corner. For most families, how much schools cost is part of the decision making process. But comparing award letters from different schools might seem like comparing apples to taco salad. The good news is, all offers need to show total cost of attendance,…
You’re likely aware that payments and interest on federal direct education loans have been suspended. The suspension began last March and has been extended several times since then, both through the CARES Act and subsequent administrative orders. The most recent extension runs through September 30, 2021. The suspension includes the following provisions: All federal direct loans including direct student loans,…