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The interest rate for direct federal undergraduate student loans disbursed after July 1, 2024 will be 6.53%, the Department of Education announced Tuesday. That's up from the current 5.5% interest rate, and the highest rates have been since 2008, according to ED data. New graduate student loans will have an 8.08% interest rate and parent PLUS loans will come with a 9.09% rate. Here are three ways to lower your overall college costs and reduce the amount you may need to borrow. Starting your college education at a community college or trade school is one way you may be able to cut down on costs while racking up course credits.
Persons: That's, Gabriella Carter, Ethan Nguonly, Nguonly hustled, Nguonly Organizations: Department of Education, Princeton University grad, CNBC, University of California — Locations: University of California — Berkeley
The young entrepreneur made waves as a teenager by scoring over $2 million in college scholarships, which allowed her to graduate debt-free from Princeton University in 2022. Through brand deals, digital products and private consultations, her business, Growing With Gabby, earned $177,000 in 2022. Gabby Carter, 22, earned $133,000 last year from her corporate job and her business, Growing with Gabby. But throughout high school and during college, she won 35 different scholarship awards totaling over $2 million — enough to graduate debt-free and with over $100,000 in savings. "That made people very curious about how I was able to have scholarship success."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis 22-year-old won $2 million in scholarships, graduated from Princeton and lives debt-free in NYCGabriella Carter, 22, lives debt-free in New York City. In high school and college, she won $2 million in scholarships and graduated from Princeton without student loans. Carter is the founder of Growing with Gabby, a business that helps other students secure scholarships. Last year, she made $133,000 between her business, her corporate job and interest income. Going forward, Carter plans to expand Growing with Gabby and create more content about money in general.
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