<ul><li>The average interest rate on 10-year fixed-rate private student loans dropped to 7.03% last week.</li><li>For borrowers with a credit score of 720 or higher, the average fixed interest rate on a 10-year loan was 7.03% and 9.45% on a five-year variable-rate loan.</li><li>Compared to the previous week, the average fixed rate on 10-year loans decreased by 1.00%.</li><li>Borrowers currently in the market for a private student loan will receive a lower rate than they would have at this time last year.</li></ul>

Private Student Loan Rates: December 3, 2024—Loan Rates Move Down

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