Rates on 10-year fixed-rate private student loans decreased last week.The average fixed interest rate on a 10-year private student loan was 7.18% for borrowers with a credit score of 720 or higher.Compared to the previous week, the average fixed rate on 10-year loans dropped by 1.41%.Last year, the average fixed rate on a 10-year private student loan was 8.90%, indicating a decrease in rates over time.