Private Student Loan Rates: June 17, 2024—Loan Rates Fall [Forbes]
NerdWallet, Inc. (NRDS)
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Source: Forbes
For many borrowers, that means rates continue to be low enough to make private student loans a decent option, especially if you have good credit. From June 10 to June 15, the average fixed interest rate on a 10-year private student loan was 7.76% for borrowers with a credit score of 720 or higher who prequalified on Credible.com's student loan marketplace. On a five-year variable-rate loan, the average interest rate was 10.85% among the same population, according to Credible.com. These rates are accurate as of June 10, 2024. Related: Best Private Student Loans Fixed-rate Loans Last week, the average fixed rate on 10-year loans decreased by 0.09% to 7.76%. The week prior, the average stood at 7.85%. Borrowers currently in the market for a private student loan will receive a higher rate than they would have at this time last year. At this time last year, the average fixed rate on a 10-year loan was 7.16%, 0.60% lower than today's rate. If you were to finance $20,000 in stu
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