Financial Aid News Concerning Federal Loans
As of July 1, 2014 the interest rate for the Direct Subsidized Loan will change from 3.4% to 3.86%.
|Loan Type||Student Grade Level||2014-2015 Fixed Interest Rate|
|Direct Subsidzed Loans||Undergraduate Students||4.66%|
|Direct Unsubsidized Loans||Undergraduate Students||4.66%|
|Direct Unsubsidized Loans||Graduate/Professional Students||6.21%|
|Direct PLUS Loans||Parents of Dependent Undergraduate Students and Graduate /Professional Students||7.21%|
We also want to encourage all students to pursue outside scholarships. According to Financial Aid expert Mark Kantrowitz, publisher of Fastweb.com, a free scholarship matching website, and FinAid.org, an online provider of student aid information:
“The typical student is eligible for anywhere between 50 and 100 scholarships, and every year more than 1.5 million scholarships worth more than $3.5 billion are given to students by donors, philanthropists, and corporations.”
We encourage you to search for outside scholarships to help meet your college expenses. To help you in this option visit our website at http://www.stmarys-ca.edu/scholarships/scholarship-websites-that-work.