Federal student loan rate hike goes into effect Saturday - WDRB 41 Louisville News

Federal student loan rate hike goes into effect Saturday

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LOUISVILLE, Ky. (WDRB) -- College students and parents will soon have to start paying more for federal student loans. 

New interest rates go into effect Saturday, but they only affect borrowers taking out new federal loans for the 2017-18 school year. 

The Department of Education is raising rates for undergraduate Stafford Loans to 4.45 percent from 3.76 percent. 

Rates for graduate student Stafford Loans are up as well to six percent.

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