Interest rates on new federal student loans will drop for the 2015-16 academic year, The Wall Street Journal reports.
The rate on undergraduate Stafford loans will drop to 4.29 percent, down from 4.66 percent this year. Graduate Stafford loans’ interest rate will be 5.84 percent, down from 6.21 percent. The rate on PLUS loans for parents and graduate students will be 6.84 percent, down from 7.21 percent.
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