Current interest rates and future trends

[Miykael]

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For all of you medical students who rely on loans, I was wondering if you could tell me what your most recent interest rate is. I'm an undergrad who is trying to understand what I'm getting myself into, financially. I would appreciate it if you could tell me the interest rate on your loans so that I can make my calculations as realistic as possible.

Your help would be much appreciated!

Also, do you think interest rates will go up in the short-term- 2 to 3 years?

 

[NTF]

Moving to Pre-allo.

 

[richse]

Stafford loans make up the vast majority of my loans and the loans for every med student I know. They are locked at 6.8% and I don't see that changing anytime soon. It's not a bad percentage rate. The other couple thousand per year I needed I took as a grad plus loan which was locked at 8%. You'd be pretty safe using these numbers for your calculations. Then if you end up getting some scholarship money or school subsidized loans (normally around 5-6% and no interest while in school) you could end up even better off.

 

[Parts Unknown]

For all of you medical students who rely on loans, I was wondering if you could tell me what your most recent interest rate is. I'm an undergrad who is trying to understand what I'm getting myself into, financially. I would appreciate it if you could tell me the interest rate on your loans so that I can make my calculations as realistic as possible.

Your help would be much appreciated!

Also, do you think interest rates will go up in the short-term- 2 to 3 years?

The most recently disbursed loans at 5.60%. See here.

The interest rate for new subsidized and unsubsidized loans first disbursed on or after July 1, 2006, is a fixed 6.80%, with these exceptions: subsidized undergraduate loans first disbursed between July 1, 2008, and June 30, 2009 (inclusive), have an interest rate of 6.00%; those disbursed between July 1, 2009, and June 30, 2010, have a rate of 5.60%. This will be further reduced in coming years. The interest rate for PLUS loans first disbursed on or after July 1, 2006, is a fixed 7.90%.

FWIW, I consolidated in spring of 2005 at 2.85%. When I establish electronic payment it will drop to 2.60%, and after a certain number of on-time payments it will drop to 2.35%. Not too shabby.