The student that is federal rate of interest for undergraduates is 4.53% when it comes to 2019-20 college 12 months. Federal rates for unsubsidized graduate student education loans and parent loans are higher — 6.08% and 7.08%, correspondingly.
Personal education loan interest levels can often be less than federal prices, but approval for the cheapest rates calls for exceptional credit. You may be able to refinance existing student loans to get a lower rate if you have good credit. Continue reading