Under the College Cost Reduction and Access Act of 2007, incrementally lower fixed interest rates were established for Direct Subsidized Loans to be available to undergraduate students with financial need during the four-year period from 2008-2009 through 2011-2012. Under the law, the rates were decreased from 6.8% to the current rate of 3.4%; however, the 3.4% interest rate was not made permanent.
Based on current forecasts, the 10-year Treasury Note (a debt obligation issued by the United States government that matures in 10 years) is expected to be the following:
2013 β 1.9 percent 2015 β 3.2 percent 2017 β 4.9 percent
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