Average three-year personal loan rates were 15.23% APR for the week ending September 15, 2024, down from 15.52% APR the week before, according to Credible personal loan data. This is the lowest that three-year rates have been since May 2024. However, rates are still up year-over-year from 14.98%.

Through Credible, you can compare private student loan rates from multiple lenders. For 10-year fixed private student loans, interest rates grew by 0.62 percentage points, while 5-year variable student loan interest decreased by 0.06 percentage points.

The Federal Reserve is expected to cut its benchmark interest rate for the first time in four years when it meets Wednesday, prompting questions on how a drop could affect student loans. Interest rates have risen since 2020,

A temporary student loan grace period protecting borrowers with missed or late payments will end later this month. The big picture: Nearly 10 million borrowers were past due on their payments as of January,

Student loan borrowers may not see much relief as interest rates drop since most student loan rates are fixed.