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Changes to student loans in August: SAVE interest rates are back
A major change is coming to student loans. At the beginning of August, around eight million borrowers will once again see interest accrue on their loans, as more than a year of relief provided by the Biden administration’s Save a Valuable Education (SAVE) plan comes to an end.
Let’s say, for example, that you owe $30,000 on a loan with an 11% interest rate on a 10-year term. If you’re able to refinance to a 7% rate, you’d save $7,791 on interest charges over 10 ...
As of July 2025, the best interest rates on private student loans started around 3% for fixed-rate loans and between 4% and 5% for variable-rate loans. For federal student loans, rates in recent years ...
Student loan interest rates vary depending on the type of loan, level of education and year when the loan is disbursed. Since 2013, the interest rate on new federal student loans has ...
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