As if the rates on student loans were not high enough, now students borrowing funds to go to school will see an increase in their rates for the 2017/18 year. I would suspect the rates wont stop here and will continue to increase every year over the next 3 years. According to AccessLex Institute, below you will find the new rate details:
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If you notice the Subsidized and Unsubsidized Staffords will go up to 4.45% from 4.29% for Undergrads. Grad Students will see an increase in the Unsubsidized Stafford loans from 5.84% to 6% (they are no longer eligible for Subsidized Stafford loans since 2012). The Plus loan rates for Parents and Graduates will go from 6.84% to 7%.
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