# Interest Rates for Student Loans for recent HS grads

**URL:** <https://boards.straightdope.com/t/interest-rates-for-student-loans-for-recent-hs-grads/548331>\
**Category:** Miscellaneous and Personal Stuff I Must Share\
**Created:** [July 28, 2010, 5:29pm UTC](https://boards.straightdope.com/t/interest-rates-for-student-loans-for-recent-hs-grads/548331 "2010-07-28T17:29:48Z")\
**Posts on this page:** 1\
**Page:** 2

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**Author:** ![Any\_Other\_Name](https://avatars.discourse-cdn.com/v4/letter/a/f17d59/32.png) [@Any\_Other\_Name](https://boards.straightdope.com/u/Any_Other_Name)\
**Post date:** [August 6, 2010, 5:11pm UTC](https://boards.straightdope.com/t/interest-rates-for-student-loans-for-recent-hs-grads/548331/21 "2010-08-06T17:11:57Z")

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> [@JerseyFrank](#):
>
> In case anyone else is interested, her parents qualified for and agreed to take a PLUS loan @ 7.9% fixed. Not the greatest loan out there, but helluvalot better than a 10.75% variable rate.
> 
> For her sake, hopefully the subsequent years give her better financing options.

New Jersey has a loan program called NJCLASS. You can borrow up to full costs of attending school, including books and transportation. Two years ago the rate was excellent, 5.9% fixed. It’s now 7.69% fixed, and my child is in last year, so we haven’t used the program the past two years. That rate is for a 20 year repayment term. There is a new 10 year term option at 5.9%. The NJCLASS loan is available to any NJ resident attending school anywhere in he US, or for non-NJ residents attending school in NJ.

Parent cosigns but I understand that creditworthiness is not a huge concern in this program.

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