How will the resumption of federal student loan payments affect your budget? Email senior writer Alicia Adamczyk for a future article.
As borrowers await the fate of President Joe Biden’s widespread student loan forgiveness plan, interest rates on new federal undergraduate student loans will increase by a half percentage point for the upcoming school year to 5.5%, according to the U.S. Department of Education. That would be the highest interest rate on new federal loans since the 2009–10 school year, in the depths of the Great Recession.
