Student Loan Rates Are Up HOW MUCH!?

New rates are in for the ‘22-’23 school year, and like everything else these days, they’re going up. On the federal side, the Direct Subsidized and Unsubsidized Student Loan, often called the “Stafford Loan,” is going up from last year’s 3.73% to this year’s 4.99%. The Direct Plus Loan often called the “Parent Plus Loan,” is going up from last year’s 6.28% to next year’s 7.54%. At the end of the day, the best plan is to pay what you can afford, borrow what you need, and make smart decisions. If you need help, don’t hesitate to reach out to Solution Prep at 732-556-8220.