Bad news for graduate student loan borrowers
Budget Control Act of 2011 - All have an effective date of July 1, 2012
1. Elimination of the Subsidized Direct Loan for graduate students.
2. Elimination of the 1/2% upfront rebate.
3. Elimination of 1/4% interest rate reduction for auto debit in repayment.
We will be sending out a mass email with further details. But the main item - No more Subsidized Direct Loans for graduate students starting July 2012.