Federal and private lenders charge interest on their student loans. The interest varies by loan type, lender, borrower qualifications, and market conditions.
This page contains a quick view for student loan interest rates. In order to find out what interest rates are and learn more visit our
Interest Rates Explanation page, or
Interest Rates Reduction to see how the federal government lowered rates
on some of their student loans.
The most important student loan is the one with lowest interest rate.
Student Loans Quick Link List:
Student Loans Parent Loans Federal Student Loans Private Student Loans Loans For Graduates Federal Graduate Loans Private Graduates Loans Loans By Profession Federal Parent Loans Private Parent Loans Other Parent Loans Federal Programs Peer to Peer Loans Personal Loans Student Loans Repayment Apply For Student Loans Student Loans In Default Interest Rates
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Obama Student Loans Student Loan Taxes Federal vs. Private Loans Private Loan Benefits Loans Repayment Protection Interest Rates Explained How To Choose a Lender Highly Rated Student Loans International Student Loans Best Student Loan For Me How To Choose a Student Loan Student Loan Lenders Bad Credit History Loans Student Loans Eligibility Loan Process Federal Direct Loans Program Federal FFEL Loans Program Compare Loan Types Before You Get a Loan After You Get a Loan Interest Rates Compare Student Loans Build Perfect Credit History
Federal Stafford Loan(Sub) Federal Parent PLUS Loan Federal Stafford Loan(UnSub) Federal Perkins Loan Private Student Loan
Federal Stafford Loan (Sub)
Financial Aid WIZARD Student Loan Calculator
Loans Discussion Loans Facts Loans FAQ Loans Glossary Loan News and Articles Loans Questions Loans Tips |
Interest Rates Overview
Interest rates on Federal Student Loans are
locked. For Private Student Loans students must Apply
in order to know the exact rate.
Interest rates listed below for private, peer to peer, and personal student loans are averaged estimates in the industry. Your actual interest will vary for these loans and it will
depend on your credit worthiness.
Before you Apply validate the type of interest you are going to sign up for. Variable interest rates could drive the cost
of the loan up later on. For more information of interest rates please visit our Interest Rates Explanation Center.
Apply for college using loans with the lowest interest rates. Start with Federal Student Loans
and borrow the rest if necessary using Private Student Loans
Interest Rates Reduction
The federal government has reduced Interest Rates on
Federal Stafford Loans Subsidized. The reduction allows borrowers to make smaller payment on their
student loans. Only loans made after July 1, 2008 will be eligible for the reduction. Please visit our Interest Rates Reduction center
for full details.
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Student Loan Tips |
Q: Take Out Student Loans As The Last Resort
When you try to get all types of Financial Aid and you do not receive anything or if the amount of money is not enough try borrowing money by taking out loans.
Q: Save Money On Repayment
If you ever are in a position to make an over payment on your loan without spreading your finances too thin, absolutely do it.
Q: Apply For Student Loans On the Same Day
We are not sure if this tip is valid, but if you have to apply for more than one student loan (different banks) do it on the same day. This will prevent the second bank to see your first loan on the credit history and it will be easier to get qualified.
View All Tips
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Important Questions |
Q: Is the interest tax deductible?
Most people can deduct interest paid on Federal Student consolidation Loans. Consult your tax advisor for more information.
Q: Which loan provides the lowest rates?
The Federal Perkins Loan has the lowest interest rate of 5%, as it was designed for students with exceptional financial need.
Q: How is the interest rate determined?
The interest rate is determined by taking a weighted average of the interest rates on all loans to be consolidated and rounding up to the nearest 1/8 of 1% or 8.25%, whichever is less.
View All Questions
Interest rates vary by student loans program and by lender. On top of that, interest rates for your private student loans will be based on your credit worthiness.
Credit History is required for your private student loans.
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