0
This can certainly depend on who finances the loan but typically the interest rate is going to be somewhere around 3.5% for undergraduate students. Graduate students loans are around 7%.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What are the interest rates for a student loan?
The interest rates for a student loan are typically fixed at the annual inflation rate. This is true of that of the UK. Higher rates are typical in other countries.
What would be most likely to have a variable interest rate attached to?
Private student loan
How do you obtain another student loan to supplement your Stafford loan?
Consider obtaining a private loan, also known as an alternative student loan. According to http://www.onesimpleloan.com/private_loans.asp, "Compared to federal student loans, private student loans typically have slightly higher interest rates. However, the interest rates on private student loans are substantially lower than conventional credit products such as personal loans, credit cards and even home equity loans."
What would be the benefit of consolidating your private and federal student loans?
One benefit of consolidating your private and federal student loans is that it would lower your monthly payments. Another benefit of consolidating student loans is that the variable interest rate on the loan can be switched to a fixed interest rate.
Who can apply for a private student loan?
Any person can apply for a private student loan at any time during the school year. Request for private student loans can be found and filled out online.
What is the interest on a typical private student loan?
The typical interest is about seven to nine percent. The interest rates are locked in, so they cannot rise or fall while you are in college. Therefore, there will be no surprises when you begin to pay it back.
What is the intrest on a typical private student loan?
The typical interest is about seven to nine percent. The interest rates are locked in, so they cannot rise or fall while you are in college. Therefore, there will be no surprises when you begin to pay it back.
Is a private student loan more expensive than a federally funded loan?
Federal loans are cheaper and have fixed interest rates. meaning that the rate will never change. However private student loans have variable interest rates which means that they can change. Private student loans has interest rate of about 12% (double that of a federal loan)
What are the interest rates for a student loan?
The interest rates for a student loan are typically fixed at the annual inflation rate. This is true of that of the UK. Higher rates are typical in other countries.
What would be most likely to have a variable interest rate attached to?
Private student loan
College Loan Interest Rates?
College loan interest rates vary and are based on numerous factors, including whether or not the loan the student is applying for is a private or federal student loan. Students who apply for private loans are typically subject variable interest rates. Whereas, students who apply for federal student loans are subject to fixed student loan interest rates.College Loan Interest Rates For Private Loans vs. Federal LoansMost private student loans feature variable interest rates versus fixed interest rates. However, students can apply for a fixed private student loan. Since variable interest rates on private loans fluctuate from year-to-year students can expect their payments to fluctuate as well. Students who apply for private student loans with variable interest rates can expect their payments to fluctuate as interest rates fluctuate.Students Can Lower Their College Loan Interest Rates With Consolidation LoansStudents who apply for and secure federal student loans have the comfort of knowing that the interest rates for their student loans will be fixed. Having a fixed interest rate can be beneficial. However, that does not mean that students can never attempt to lower their college loan interest rates. In fact, students who have two or more federal student loans can apply for a federal student consolidation loan to lower their interest rate on their federal student loans.New Federal College Loan Interest Rates Are Announced Each Year on July 1Students who are interested in consolidating their loans can take advantage of new interest rates that are announced on July 1. Students who are in high interest rate loans can apply for a consolidation loan in any year when lower rates are announced. New interest rates are announced each year on July 1 apply only to federal loans and not private student loans. Students interested in this option must consolidate and lock in a lower interest rates before a new interest rate is announced the following year.For students who are applying for student loans or are in repayment, having a full understanding of college loan interest rates can help you decide whether to consolidate or apply for a fixed or variable interest private loan.
How do you obtain another student loan to supplement your Stafford loan?
Consider obtaining a private loan, also known as an alternative student loan. According to http://www.onesimpleloan.com/private_loans.asp, "Compared to federal student loans, private student loans typically have slightly higher interest rates. However, the interest rates on private student loans are substantially lower than conventional credit products such as personal loans, credit cards and even home equity loans."
Is there a no interest student loan?
no
Who receives the interest from student loans in the UK?
Similar to the programs in the United States, the lending bank receives the interest from student loans in the UK. When a bank becomes part of the student loan scheme, that bank offers a lower interest rate (since the loan is guaranteed by the government) than they might on a similar private loan to a person exhibiting similar credit behavior.
What would be the benefit of consolidating your private and federal student loans?
One benefit of consolidating your private and federal student loans is that it would lower your monthly payments. Another benefit of consolidating student loans is that the variable interest rate on the loan can be switched to a fixed interest rate.
Can you co sign a student loan with bad credit?
In the USA, if the student loan is Federal like a Stafford or Perkins loan, then yes you can cosign with bad credit. If the student loan is a private student loan, then no, you must have good credit. Keep in mind, you should never take out private student loans out until you have used up Federal loans, grants, and scholarships. Private student loans have high interest rates and no benefits.
Where can you get reliable private student loans?
It is recommended to only get a private student loan if they have maxed their Federal Stafford loan. A good rate would be interest rates of LIBOR + 2.0% or PRIME - 0.50% with no fees as this is competing with the federal loan. Advice can be found here: http://www.finaid.org/loans/privatestudentloans.phtml
