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WNY's Non-Profit Planning Organization
![SYKTC WBEN (3).png](https://static.wixstatic.com/media/3fd874_aa76c3e8d08b4d2e8ac077f69809ac6e~mv2.png/v1/fill/w_896,h_322,al_c,lg_1,q_85,enc_auto/SYKTC%20WBEN%20(3).png)
2023-24 Federal Student Loan Rates
2023-24 Federal Student Loan Interest Rate
Will Be Higher
The Federal Direct Student Loan interest rates for 2023-24 have been determined by the government and they will be increasing for the school year 2023-24. This change will be applied to new federal loans disbursed between July 1, 2023, and June 30, 2024. The 2022-23 rates were slightly higher after years of lower rates due to COVID and the historically low 10-year treasury rates.
These are the rates for new federal student loans. Under the National Forbearance program due to COVID current loans have a 0% interest rate until 9/1/2023. Under the current President's Executive order, this will expire by 9/1/2023. You can view/download the chart below for this year's upcoming interest rates.
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