For The Best Rates; Shop Around
Congress recently revamped the student loan program and has imposed a fixed rate of interest on all loans disbursed after July 1. This means the cost of borrowing for college just got higher, but students and parents can still save money by shopping for discounts. Sfgate.com reports:
Many lenders are offering discounts off these rates. The discounts start at various points in the loan’s life and usually require borrowers to sign up for automated payments and make a certain number of on-time payments. Some lenders also discount or rebate the 3 percent fee levied on Stafford and Plus loans.
Read more: It pays to shop around for student loan rates
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