what is the interest rate on student loans
Variable interest rates for new Discover Student Loans are calculated as the 3-Month LIBOR plus the applicable Margin percentage. The interest rate will never be higher than 18% per year, regardless of the 3-Month LIBOR. For questions about the interest rates for your existing Discover Student Loans, call us at 1-800-STUDENT 1-800-STUDENT.
For the 2011 school year, new Stafford loans came with interest rates of 6.8 percent. This type of loan is the most common type of federal student loan. If your Stafford loan is subsidized rather than unsubsidized, it does not begin accruing interest until after you leave school.