Well, yes and no. What we've seen as that as the federal government increases availability of funding to students, institutions of higher learning astronomically increased their tuition rates. And no doubt states cut budgets of state schools, too.The hope has never been better, now that we have a Democratic president and legislature.
Is this for every school participating in direct loans? I've seen some schools only stating a 1% reduction rebate for 09/10 and the fee itself being 1.5%.Loan fees for Direct are 2% for 08/09 but all borrowers receive an upfront rebate of the fees for 1.5% so you effectively only lose .5%. For the 09/10 year the fees drop to 1.5% and with the rebate of 1.5% it becomes essentially no fees. In order to keep the rebate a borrower must make the first 12 payments on time.