List of latest and best student loan interest rates
List of latest and best student loan interest rates
Federal as well as private student loans are offered for students studying in the United States of America.
The current interest rates are to be studied well by the prospective student in order to make the correct decision on what loan to apply for.
Federal student loans interest rates
For undergraduates the Direct Stafford Loan has an interest rate of 6.8% and the subsidized Direct Stafford Loan is given at an interest rate of 4.5%.
For graduates the Unsubsidized Direct Stafford Loan is offered at an interest rate of 6.8% and the subsidized Direct Stafford Loan at 6.8%.
The Direct graduate PLUS loan is offered at an interest rate of 7.9%. This loan is unsubsidized.
Other student loans and their interest rates
The Perkins Loan is given at an interest rate of 5%. The Direct Parent PLUS loan which is unsubsidized is at an interest of 7.9% and the Direct consolidation loan which is the average of the student’s consolidated loans is 0.125%.
Best Private student loans interest rates list
Private student loans are offered by many organizations such as SallieMae, citi, PNC and so on.
After applying and receiving all the federal student loans if the student is still eligible and in need for more funds he can apply to private students loans.
The latest interest rates of various student loans are provided below:
Wells Fargo Collegiate Loan
The Wells Fargo Collegiate Loan offers low variable rates as low as 3.4%APR and .50% off when the student graduates. With automatic loan payments 0.25% is waived.
SallieMae
The Smart option student loan can save you about 8000$ when compared to other traditional 15 year payment private student loans. The current interest rates for institutions granting degree is 2.87%APR to 10.21%APR.
A 0.25% reduction in the interest rate is offered if the student makes payment by automatic debit. If the student makes the payment on schedule then he earns a 2% smart reward and if you apply with a cosigner who is creditworthy then the interest rate is lower.
citiAssist Loan
CitiAssist loan is a private student loan which charges an interest rate ranging from 3.875% to 11.625%. A 0.25 interest rate is reduced for auto debit payments.
PNC student loan
If the student establishes automated payments from his account then he can save 0.50% from his interest rate. The interest rate ranges from 4.3% to 11.1 %APR.
Citizens Bank TruFit Student Loan
For automatic payment from any Citizens account the student is granted 0.50% reduction in the interest rate.
