2014-2015 Federal Stafford Loan Interest Rate Change

Effective, July 1, 2014, the interest rates for the Federal Stafford Loans have changed. The table below provides interest rates for Direct Loans first disbursed on or after July 1, 2013.

Perkins Loans (regardless of the first disbursement date) have a fixed interest rate of 5%.

Interest Rates for Direct Loans First Disbursed on or After July 1, 2013

Loan Type

Borrower Type

Loans first disbursed on or after 7/1/13 and before 7/1/14

Loans first disbursed on or after 7/1/14 and before 7/1/15

Direct Subsidized Loans

Undergraduate

3.86%

4.66%

Direct Unsubsidized Loans

Undergraduate

3.86%

4.66%

Direct Unsubsidized Loans

Graduate or Professional

5.41%

6.21%

Direct PLUS Loans

Parents and Graduate or Professional Students

6.41%

7.21%

All interest rates shown in the chart above are fixed rates for the life of the loan.

Note: The interest rates for federal student loans are determined by federal law. If there are future changes to federal law that affect federal student loan interest rates, we will update this page to reflect those changes.

Heads Up, Students: You Could Win $500

Sweepstakes Details First things first: Have you set up your SALTTM account yet? Your school got you free access! Once you’re registered at saltmoney.org, all you have to do is complete a My Money 101TM module or SALT lesson. There are 13 different money lessons to choose from, so you can earn up to 13 chances [...]

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Scholarship Renewal Criteria

Applied for your academic scholarship renewals? Do you remember your renewal criteria? Listed below is the renewal requirement for Washburn University Academic Scholarships.  Washburn Academic Scholarship Initially awarded in the 2011-2012 School Year—You must successfully complete 24 hours between the fall 2014 and spring 2015 semesters and maintain at least a 3.0 cumulative GPA.  Please [...]

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SALT Ambassadors Wanted!

 Washburn University’s Financial Aid Office is looking for 6 – 7 excellent students to be members of our SALT Ambassador Program. What’s SALT? SALTTM is a program that helps give students money skills for life. SALT helps you track and manage student loans, get free financial advice, find scholarships, jobs, and internships, and plenty more. [...]

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Financial Aid — and YOU!!!

Ever wonder what Sockabod and Danny Funk, the Washburn University’s Scholarship Coordinator, would be doing during this month if it was the 1940′s? Check it out on YouTube: http://www.youtube.com/watch?v=ICCUc9WguMU. Don’t forget the priority submission date is February 15, 2014.

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Decoding your Satisfactory Academic Progress (SAP) Letter

Did you receive a Satisfactory Academic Progress (SAP) letter over the winter break? Did you understand it?  Here is a quick guide to decoding your Satisfactory Academic Progress (SAP) letter and what it means. First and foremost, the Financial Aid Office send Satisfactory Academic Progress (SAP) notices only to students who are not meeting the [...]

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Academic Scholarship Application Available for 2014-2015

The 2014-2015 scholarship application for Washburn University now is available online. Access the application at https://www2-prod.washburn.edu/iss/surveys/index.php?department=7&form=scholarship-application&survey=true&mode=O Login at this site using your MyWashburn username and password. Select the “Academic Scholarship Application.” Also select any other applicable scholarships previously received, located in the scholarship section on the application. February 15, 2014 is the priority deadline for [...]

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Everything you need to design your first budget

One of the most important steps in taking control of your finances is designing a personal budget. When you take a close look at your income and expenses, it’s easy to determine whether you’re living within your means. Once you’ve tailored a plan to your life, you’ll be able to both spend your money wisely [...]

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Welcome to the Washburn University Financial Aid Blog

Welcome to the Washburn University’s Financial Aid Office’s blog.  The purpose of this blog is to keep you informed on the rapidly changing world of financial aid and to discuss topics that affect your ability to pay for your education.  Please note that some topics will be categorized for certain groups while others will be [...]

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Sequestration Changes to Federal Direct Loans

There has been a change to the origination fees percentage for Federal Direct Loans for the 2013-2014 academic year. What is an origination fee? The origination fee is a fee paid by a borrower to help defray the cost of making a loan. These funds are not paid to Washburn University but are retained by the Department [...]

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