It’s July 1, 2010 – if you have student loans then your first payment may be due today!

Here is a reminder of what the current student loan interest rates are:

Undergraduate students

If the first payment of your subsidized loan is between July 1, 2010 and June 30, 2011: the interest rate on your loan is fixed at 4.5%

If the first payment of your subsidized loan is between July 1, 2011 and June 30, 2010: the interest rate on your loan will be fixed at 3.4%

Graduate and professional degree students

The interest rate is fixed at 6.8%

Direct Unsubsidized Loans

The interest rate is fixed at 6.8% for all borrowers – undergraduate and graduate

Don’t forget to pay your loans! Check out What Happens If You Default on Student Loans for the possible consequences.