Rates Remain, Mortgage loan
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Nearly 8 million people enrolled in the SAVE plan will once again accrue interest on loan payments, beginning in August
Federal student loan rates dropped slightly for the 2025-26 school year, but are they the most affordable option?
For example, let’s say you owe $28,950 in student loans with an 8% interest rate. If you could refinance to a 6% rate, you’d save $3,059 in interest charges over a 10-year repayment term.
The federal cap on the amounts people can borrow means some of them will fall short. That’s especially true for students in professional schools.
Changes under the GOP spending bill will hit borrowers taking out loans next summer and any point after, as well as the 8 million Americans stuck in limbo on the SAVE plan.
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CNET on MSNStudent Loan Repayment Plans Will Last as Long as Most Mortgages. How Much the New Budget Bill Will Cost YouMonthly payments could drop, but most borrowers will pay more in interest over time. What to expect now that President Trump's "Big Beautiful Bill" is law.