2002 guide to financial aid lenders - Special section: the economy

University Business, March, 2002 by Jeffrey Morris, Tim Goral

NOTE: Interest rates are set by Congress and vary annually based on 91-day Treasury Bills, plus 1.7 percent during school. All lenders offer the same rate for the Stafford Loan, although some give discounts for on-time and electronic payment of the loan after graduation. Stafford loans disbursed between July 1, 2001, and June 30, 2002, receive an in-school interest rate of 5.39 percent (3.69 percent plus 1.7 percent), as well as in grace and deferment periods.

During all other periods, the interest rate is 5.99 percent (3.69 percent plus 2.3 percent).