Author: Tim B. Galvan, Cartoonist
Answered Monday, October 25, 2021Answer:
The student loan interest rate is a variable that changes from year to year, and from bank to bank. In general, the interest rates have been between 4.5% and 10%. Today, the average is closer to 4%, with some as low as 2.1% if you're willing to pay a slightly higher yearly fee. Check your options with lenders; we recommend Credible for finding competitive offers and seeing your estimated monthly payment depend on different factors like interest rates and credit score (weighing pros and cons ahead of applying).Author: Connie M. Hewitt, Dermatologist
Answered Monday, October 25, 2021Answer:
Refinance rates for student loans range from 1.09% to 10%. Refinancing a student loan is a great option because the lower interest rate carried by a refinance loan could lead to tens of thousands saved in interest over the life of the loan. This money can then go towards paying off your debt or other expenses, such as adding on a savings account, purchasing a car, or travelling abroad.
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