This is from ed.gov:
https://www.ed.gov/offices/OSFAP/DirectLoan/calc.html"Current interest rates For Stafford loans first disbursed between July 1, 1998, and June 30, 2006, the interest rate for the period July 1, 2007, through June 30, 2008, is 7.22% for loans in repayment and 6.62% during in-school, grace, and deferment periods. Similarly, for PLUS loans disbursed between July 1, 1998, and June 30, 2006, the interest rate is now 8.02%.
The interest rate for new Stafford loans first disbursed on or after July 1, 2006, is a fixed 6.80%. The interest rate for new PLUS loans is a fixed 7.90%. For Direct consolidation loan interest rates, see that rate page for information."
As the Federal Reserve is cutting interest rates left and right, I'm wondering how this will impact student loan rates for school year 2008-2009. I would hope stafford loans would drop below 6.80% and PLUS below 7.90%. Anyone have insight?