I also noticed the mistake in the Ivywise article you’re talking about. In fairness, the 6.1% interest rate on PLUS loans that Rod Bugarin mentioned was based on old information about the 2005-2006 aid year. Though you are correct that it has been fixed at 8.5% since 2006, it seems an easy mistake to make. A lot of websites are reporting incorrect PLUS interest rates simply because they are not up-to-date, and Rod may have been relying on one of these resources during his research.

I do agree, though, that a self-proclaimed financial aid expert should know better and that we should be wary of counselors with out-of-date information (especially when it’s almost 2 years old). An industry expert who earns money for his services should know better.

I e-mailed Rod when I noticed the mistake, and he let me know that he would change it on Monday and also publish a redaction in next month’s issue. He was willing to admit the mistake and to take steps to fix it, so I think we can forgive him on this one.

-Brian, AcceptedToCollege.com