Education Dept. announces 2024-25 interest rates on student loans

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The US Department of Education sign hangs over the entrance to the federal building housing the agency’s headquarters in Washington, D.C., Feb. 9, 2024.

J. David Ake | Getty Images

The U.S. Department of Education announced Tuesday the interest rates on federal student loans for the 2024-2025 academic year.

The interest rate on federal direct undergraduate loans will be 6.53%. That’s the highest rate in at least a decade, according to higher education expert Mark Kantrowitz. The undergraduate rate for the 2023-2024 year is 5.5%.



This article was originally published by a www.cnbc.com

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