Learn about typical student loan rates as you weigh your student loan options

If you have student debt or are planning to borrow money for college, pay special attention to your student loan interest rates. The higher the rates, the more you'll pay, while lower rates will mean repaying less.

So what is the average student loan interest rate? Form 2006 through 2021, average federal student loan rates were 4.66% and 6.22% for undergraduate and graduate loans, respectively. However, your rate may be well outside this range, depending on the type of loan you take out, including federal and private student loans, as well as whether you had a cosigner.

Here's an overview of the average student loan interest rates you can expect, along with an explanation of how these rates are set. Read more