Federal student loan interest rates now highest in a decade

(NerdWallet) - Federal student loan interest rates for the 2023-24 academic year are live, and they are the highest they’ve been in at least a decade. Interest rates for undergraduate direct subsidized loans, for example, haven't been this high since hitting 5.6% for the 2009-10 school year.The new rates apply to all loans taken out from July 1, 2023, to June 30, 2024, according to the Education Department. The interest rate for an undergraduate direct loan is 5.5%. Graduate students takin