Aug 17, 2009
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I was wondering if anyone had any insight on this new legislation. How much will this bill affect graduate student loans? I read that it will be increasing Pell grant awards (an unbelievable 375 dollars or so :cool:) but aren't these targeted for undergraduates? I also read that the Plus program's interest rate may come down a bit, to 7.9% or so... As you can see my knowledge on this topic is a bit fragmented but I'll try to post new information as I further research this. Thanks!
 

OhioDoc

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Jul 19, 2009
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I was wondering if anyone had any insight on this new legislation. How much will this bill affect graduate student loans? I read that it will be increasing Pell grant awards (an unbelievable 375 dollars or so :cool:) but aren't these targeted for undergraduates? I also read that the Plus program's interest rate may come down a bit, to 7.9% or so... As you can see my knowledge on this topic is a bit fragmented but I'll try to post new information as I further research this. Thanks!
Pell grants aren't awarded to graduate students. I guess the drop in the interest rate for the PLUS loan is nice - I wish they would change federal stafford back to variable interest rate loans (and cap them at 6.8% like they were previously).
 

TooMuchResearch

i'm goin' to Kathmandu...
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Pell grants aren't awarded to graduate students. I guess the drop in the interest rate for the PLUS loan is nice - I wish they would change federal stafford back to variable interest rate loans (and cap them at 6.8% like they were previously).
Sigh...the days of 3% consolidation loans are long gone :(
 

DrYoda

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Jun 22, 2008
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I was wondering if anyone had any insight on this new legislation. How much will this bill affect graduate student loans? I read that it will be increasing Pell grant awards (an unbelievable 375 dollars or so :cool:) but aren't these targeted for undergraduates? I also read that the Plus program's interest rate may come down a bit, to 7.9% or so... As you can see my knowledge on this topic is a bit fragmented but I'll try to post new information as I further research this. Thanks!
7.9%:eek:. Sounds like a reason to riot more than anything.