Sunday, September 27

Government

Want a Student Loan? Now’s the Time!
All Posts, Government

Want a Student Loan? Now’s the Time!

The U.S. economy has drastically changed ever since the onset of the coronavirus pandemic. Businesses shuttered, teleworking at an all time high, are all part of the “new normal” we are living through. The lack of economic growth has called for the Federal government to enact very low interest rates in order to spur economic growth and prevent an economic crisis like we had in 2008. What do low interest rates mean? The cost of borrowing any money is now extremely low compared to before, because the government wants people to borrow money to spur economic growth. This low interest rate includes student loans, which are of high interest among the Vanderbilt student body. The interest rates on student loans is at a rate of  2.75%, much lower than a typical rate in any other year. Rat...