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The average interest rate on 10-year fixed-rate private student loans moved up last week. For borrowers pursuing private loans to fill in gaps to pay for higher education expenses, rates remain relatively low for borrowers with solid credit.
For borrowers with a credit score of 720 or higher who prequalified on Credible.com’s student loan marketplace from September 5 to September 10, the average fixed interest rate on a 10-year private student loan was 7.63%. On a five-year variable-rate loan, the rate was 5.88%, according to Credible.com.
Related: Best Private Student Loans
Fixed-rate Loans
Last week, the…
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