The student that is federal rate of interest for undergraduates is 4.53% for the 2019-20 college 12 months. Federal rates for unsubsidized graduate student education loans and parent loans are higher — 6.08% and 7.08%, correspondingly.
Private education loan rates of interest can often be less than federal prices, but approval when it comes to cheapest prices calls for credit that is excellent. You may be able to refinance existing student loans to get a lower rate if you have good credit.
Present education loan interest levels
Federal pupil loan interest levels reduced when it comes to 2019-20 college 12 months thereby applying to loans disbursed between July 1, 2019, and July 1, 2020. The attention price for several brand new federal direct student that is undergraduate reduced to 4.53%, down from 5.05per cent in 2018-19. Unsubsidized direct graduate student loan prices reduced to 6.08percent, down from 6.60per cent. Keep reading →