Federal student loan rates for loans disbursed between July 1, 2026 and June 30, 2027 are now set. Undergraduate Direct Subsidized and Unsubsidized loans carry a 6.52% fixed rate, up from 6.39% the previous year. Graduate Direct Unsubsidized loans are 8.07%, compared to 7.94% last year. PLUS loans for graduate students and parents reached 9.07%, up from 8.94%. The Grad PLUS loan program is ending; current borrowers can continue for a limited time, but new borrowers cannot access these loans.
Private student loan rates moved slightly in November 2026. Fixed rates on in-school loans range from 1.94% to 18.19%, while variable rates span 3.50% to 17.99%. Maximum rates ticked upward. The lowest rates require top-tier credit and automatic payment enrollment.
College Ave offers fixed rates from 1.94% to 17.99%. Ascent provides 1.99% to 18.19% fixed. SoFi offers 2.99% to 15.99% fixed. Citizens Bank ranges from 3.49% to 13.98% fixed. Only borrowers with the strongest credit will qualify for rates below the federal student loan rates of 6.52% to 9.07%. Everyone else will pay higher rates on private loans, sometimes reaching double-digit APRs.
Private student loan refinance rates also held relatively steady. MEFA offers fixed rates from 3.95% to 8.95%. RISLA provides 3.99% to 8.74% fixed. SoFi ranges from 4.62% to 11.99% fixed. Earnest offers 4.65% to 10.24% fixed. The lowest refinance rates again require strong credit profiles and set-up of automatic payments.
With federal student loans, rates are fixed for the life of the loan. The government covers interest on subsidized loans while you are in school, but you pay all interest on unsubsidized and PLUS loans immediately. Private loans require payments while in school in most cases and begin accruing interest right after disbursement.