All federal loans issued each year have the same, fixed interest rate — regardless of the borrower’s credit. Private student loans, on the other hand, have wide-ranging interest rates. For instance, the current student loan interest rates for private loans range from 5.30% to 14.05% for fixed rates and 3.54% to 12.99% for variable rates.... Teddy Nykiel is a writer at NerdWallet.

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