2017-2018 Student Loan Rates – 4.45%
Federal Student Loan Rates are about to Rise
It’s June! Warm afternoons, days spent with your toes in the sand at the beach, tossing aside winter and spring attire for jean shorts and tank tops… Yes, summer is here!
Congratulations if you have a soon to be college freshmen. This summer will be a critical time to create your detailed college funding plan for the next four years. For many families, this will include some loans. The Bad News is that on July 1st, interest rates on federal student loans are set to rise. The Student Stafford loans will climb to 4.45% from 3.76 % and the PLUS loans will climb to 7% from 6.31%. Our Senior Scoop lays out the details for each loan as well as other factors to consider when taking out any loans this year.
Payscale has released their annual College ROI Report, which calculates a return on investment for schools across the U.S. by subtracting the cost of attendance from graduates’ 20-year pay. This month’s Featured Find identifies the top 25 colleges on their list.
Vancouver, WA 98683
25 Colleges That Are Worth The Money
Where you go to college isn’t just an investment in the next four years, it’s an investment in the rest of your life.
And although price certainly isn’t the only factor to consider when deciding where to attend, it doesn’t hurt to go to a school that’s a good value.
Payscale’s annual College ROI Report determines the return on investment for schools across the U.S. by subtracting the cost of attendance from graduates’ 20-year pay.
For the report, Payscale draws its data from the approximately 1.3 million college-educated workers who successfully completed PayScale’s Employee Survey over the last 10 years. Read a complete breakdown of the methodology here.
For this list, CNBC included schools based on the cost of out-of-state tuition, where applicable.
Though we can’t guarantee that attending any particular school will result in the same ROI, here are 25 schools that give you a good shot.
How to Survive Paying for College Workshops & Webinars
Seating may be limited – Register to ensure your spot!
Most parents are not financially prepared to enter the most expensive time period of their lives: covering their child’s college education.
Our 1-hour workshops provide steps you can take right now to assure you understand the cost of attendance and how you can afford college without jeopardizing your retirement.
- How to Survive Paying for College – Webinar
August 15th, 6pm – 7pm
Warning: Federal Student Loan Rates are about to Rise
Borrowers can expect to pay more for federal student loans, beginning on July 1.
The federal government sets interest rates on student loans annually, based on a formula adopted in 2013.
The rate on new undergraduate Stafford loans, one of the most popular student loans, will rise to 4.45 percent, up from 3.76 percent this year.
Rates for graduate student Stafford loans will increase to 6 percent, up from 5.31 percent.
And rates on PLUS loans, available to parents, as well as graduate students, will rise to 7 percent, up from 6.31 percent.
The Education Department has not officially announced the new rates, but they can be calculated based on the government’s formula, said Mark Kantrowitz, a financial aid expert. He lays out the math on Cappex.com, a college funding website where he serves as publisher and vice president of strategy.
About Westface College Planning
If you are a typical parent with college bound students, you’re probably overwhelmed by all the research necessary to help your sons and daughters make the right choices and prevent overpaying for their education.
You are not alone!
Get the facts. Educate yourself to potentially save tens of thousands of dollars on a single college education. Parents of more than one child heading to college in the next few years, can save even more.
At Westface College Planning, we work with families to help you plan for and navigate the “paying for college” process. We teach you how to minimize your out-of-pocket expenses, maximize financial aid eligibility, understand the best way to navigate through the college selection process and prioritize your sources of college funds to protect your life savings!
More information at WestfaceCollegePlanning.com.
Click here to sign up for email updates.
You’ll receive our monthly newsletters and other important updates… Directly to your inbox!
June 2017 Newsletter – Issue #68
Ready for your own success story?
If you’re a typical parent with college-bound students, you’re probably overwhelmed. You want to help your sons and daughters make the right choices and prevent overpaying for their education. You’re not alone! We’re here to help. Schedule your free consultation today – click below to get started!
Catch our free, on-demand webinar:
How to Survive Paying for College
Join Beatrice Schultz, CFP® for our on-demand webinar, where she provides parents with the exact steps that often greatly lower the cost of college, even if there’s little time to prepare.