Unlike federal student loans, private student loans do not have a universal fixed interest rate.Private student loan interest rated are calculated based on a published index, such as the Prime Rate or LIBOR, and a margin based on your credit score and credit history. Private student loan interest rates fluctuate over time and interest begins accruing as soon as the loan is disbursed.
Original post:Â
How are private student loan interest rates determined?
Tue, Mar 2, 2010
Credit, Loans, Student loans