Student Aid and Fiscal Responsibility Act

[CytokineStorm]

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 ) 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!

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[OhioDoc]

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 ) 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]

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]

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 ) 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%. Sounds like a reason to riot more than anything.

 

[DrBowtie]

7.9%. Sounds like a reason to riot more than anything.

Grad Plus are currently 8.6%

 

[DrYoda]

Grad Plus are currently 8.6%

Which is shameful considering how low the base rate is right now.