Private lenders set a range for interest rates. Your actual rate will be based on your and your cosigner’s creditworthiness. As of October 1st, 2020, private student loan annual percentage rates (APRs) are currently:
Loan Type | Fixed APR | Variable APR |
Undergraduate | 4.49% to 11.93% | 2.14% to 11.20% |
Graduate | 5.15% to 11.36% | 2.57% to 11.41% |
Refinance | 3.43% to 7.16% | 2.67% to 6.85% |