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Federal loans are actually sitting under 4% and private rates range all the way down to about 3% Source: https://www.bankrate.com/loans/student-loans/current-i
by PragmaticPulp 5y ago
Federal loans are actually sitting under 4% and private rates range all the way down to about 3%
Source: https://www.bankrate.com/loans/student-loans/current-interest-rates/ https://www.bankrate.com/loans/student-loans/current-interes...
Of course it's always possible to go find higher rates depending on the situation, but the averages are closer to 3-4% than 7%.
- matthewdgreen 5y agoThere is an upper limit on the amount you can take in these loans and it’s depressingly low, well below the tuition of many private (and some public) colleges. To finance the rest you’re looking at much higher rates.