Current interest rate for consolidating student loans
Any student, regardless of their financial need, typically qualifies for unsubsidized student loans, and students with a financial need may qualify for subsidized loans.
Subsidized loans are a better deal because the government pays the interest that accrues while you’re in school.
We’re on your side, even if it means we don’t make a cent.
Private student loan interest rates can be lower than federal rates, but approval for the lowest rates requires excellent credit.
The interest rate for federal direct undergraduate student loans will increase to 5.05%, up from 4.45% in 2017-18.
Unsubsidized direct graduate student loan rates will rise to 6.60%, up from 6.00%.
We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. " The federal student loan interest rate for undergraduates is 4.45% for the 2017-18 school year.Federal student loan fees are taken as a percentage of the total loan amount and deducted proportionally from each loan disbursement, meaning you’ll receive slightly less than the amount you borrow.It’s generally best to max out your federal student loan options before taking out a private student loan.The rates and terms listed on our website are estimates and are subject to change at any time.Please do your homework and let us know if you have any questions or concerns.