Congressional Ordered Sequestration Raises Student Loan Fees and Lowers Loan Amounts

The Department of Education has just announced that due to mandatory federal budget cuts put in place by the “sequester” in 2011, fees for new federal student loans will go up. The loan fee for Direct Loans will now be 1.069% and for Direct PLUS Loans it will be 4.276%. Iraq and Afghanistan Service Grants …

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