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What it means for your money

The Federal Reserve is widely expected to raise its benchmark interest rate by a quarter percentage point at its September meeting.

Sources (1)· Sep 14, 4:17 PM

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The Fed raised interest rates for the first time in three years. Here's what it changes for UF students with loansThe Federal Reserve voted unanimously to raise its benchmark interest rate by a quarter of a percentage point Sept. 16, bringing its target range to 3.75% to 4%, the first increase since July 2023. About 91% of U.S. student loan debt is federal, which doesn't change in parallel to interest rate changes. Congress sets the rate once a year and the rate is…