Students set to pay less interest on loans
While it may be weeks before MSU students will know how much their tuition will cost, the loans they use to pay it wont cost them as much.By July 1, the interest rate on federal student loans will drop from 8.19 percent to 5.99 percent, echoing interest rate decreases across the country.Parents borrowing loans for their childs education will see an interest rate of 6.79 percent, down from 8.99 percent.