Each year, thousands of students and parents rely on Federal Direct loans to assist them with paying for higher education costs. The interest rates on these loans are fixed for the life of the loan but the interest rate on newly issued loans adjusts annually based upon the yield of the last 10-year Treasury auction in May. On May 9, 2018 the 10-year Treasury note had a yield of 2.995% which is up from 2.40% from a year ago. Use…
