Student Loan Interest Rate Dropping to Historic Low

We don’t know exactly what college will look like in the fall, but student loans to get there just got cheaper. The interest rate on new undergraduate federal student loans will decrease to 2.75%, the lowest point on record, for the 2020-21 school year. That is a drop of 39% from 4.53% in 2019-20. The...

Cecilia Clark is a writer at NerdWallet. Email: cclark@nerdwallet.com.

The article Student Loan Interest Rate Dropping to Historic Low originally appeared on NerdWallet.