Sentences with phrase «federal student loan interest rates depend»

Federal student loan interest rates depend on what type of loan you have.

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In addition, since your ability to obtain a private loan depends largely on a student's (and often their parents») creditworthiness, interest rates can vary quite a bit and can potentially be significantly higher than those available through one of the federal options we discussed earlier.

Student loan interest rates work differently, depending on whether the loan is federal or private.

Federal student loans also have flat interest rates set by Congress, while the interest rate on a private student loan depends on your or your co-signer's credit.

Depending on when they were disbursed, federal student loans can have an interest rate as high as 8 %, and private loans can average as high as 12 %, so it's very likely that you'll qualify for lower rates.

Student loan interest rates can vary considerably, depending on the type of loan (federal or private), the creditworthiness of the borrower, and whether the interest rate is fixed or variable.

For one, interest rates on federal student loans are capped at 8.25 percent to 10.5 percent, depending on the type of loan.

Student loan interest rates work differently, depending on whether the loan is federal or private.

The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan.

Your choice of interest rates will depend on your specific loan — federal student loans, private student loans or refinancing your current student debt.

At the time of writing, federal student loan interest rates range from 4.45 % to 7 %, depending on the type of loan you qualify for.

While federal student loans have flat interest rates set by Congress, the private student loan interest rates largely depend on your credit rating.

For example, according to Nelnet, variable rate federal student loans currently have interest rates ranging from 2.05 % to 3.80 %, depending on the type of loan and year of disbursement.

Federal loans offered through the Department of Education have fixed interest rates, while private student loan lenders offer loans at different rates depending on many factors including your credit score, income, and employment history.