The Direct Stafford Loan
Program comes with a low interest rate and is designed to help cover the cost at a four year college or university, community college, or trade, career, or technical school.
Family Loans: If you have family members who have the means to lend you money for college, this is an option that will
probably come with lower interest rates than any other option on this list, and perhaps no paperwork.
Since shorter loan
lengths come with lower interest rates, there is an incentive for students to make potentially unwise borrowing decisions, though Ascent's financial literacy program should help borrowers avoid this.
Many homeowners choose the VA Cash - Out refinance option over other types of loans because of the ability to repay the loan over a longer period of time, and typically, the VA Cash - Out refinance
option comes with a lower interest rate.
Ideally, the new loan will
come with a lower interest rate than what you're paying now.
Taking out a second loan to pay off your first one might make sense if, say, that second loan
comes with a lower interest rate.
Since around the middle of 2013, jumbo mortgage products have
come with lower interest rates (on average) than conforming loans.
Private student loans might
come with lower interest rates and fewer fees compared to federal student loans.
The hope is that your new mortgage
comes with a lower interest rate — and a lower monthly payment.
Personal loans tend to
come with lower interest rates than credit cards and other expensive borrowing tools.
You can also use a personal loan to consolidate your credit card debt, that is, to combine your balances into one loan that may
come with a lower interest rate.
Specialized solar panel loans, which are secured loans that can only be used for solar panel systems, generally
come with lower interest rates.
Since around the middle of 2013, jumbo mortgage products have
come with lower interest rates (on average) than conforming loans.