Last week, the average interest rate on 10-year fixed-rate private student loans jumped up. Yet for many borrowers, it could be a good time to apply for a private student loan. Rates are still relatively low.

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The average fixed interest rate on a 10-year private student loan was 7.71% from August 5 to August 10. That’s for borrowers with a credit score of 720 or higher who prequalified on Credible.com’s student loan marketplace. The average interest rate on a five-year variable-rate loan was 11.93% among the same population, according to Credible.com.

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These rates are accurate as of August 5, 2024.

Related: Best Private Student Loans

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원문링크 : Private Student Loan Rates: August 12, 2024—Loan Rates Increase – Forbes Advisor