College students get a half point loan break - KWWL - Eastern Iowa Breaking News, Weather, Closings

College students get a half point loan break

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WATERLOO (KWWL) -

College loan seekers are getting a break from student loan provider Sallie Mae.

It is dropping the interest rate to 9.875 percent, plus an added interbank interest rate.

But analysts say the half-point rate drop probably won't attract many new borrowers.

Private student loans like Sallie Mae are usually thought of as last resorts, after scholarships and federal money runs out.

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