A Borrower's Guide to July 1, 2009
The first of July is an important date for people with federal student loans: it's when interest rates and other terms change each year. On July 1, 2009, Income-Based Repayment becomes available for the first time; Pell grants get bigger; and the interest rates on new Subsidized Stafford loans and existing variable-rate loans go down.
This is a guide to what college students, their parents, and people already repaying their student loans need to know about the changes taking place on July 1, 2009.
Read the full report A Borrower's Guide to July 1, 2009 on the Project on Student Debt Web site.