rolis7
My understanding is that rates get locked in for ed loans you pull for 2014-2015 academic year in July. As long as rates don't rise too much between now and then, we should still get an attractive rate vs historical averages. 2015-2016 rates get set July 2015. Uptrend hurts relative to last few years though. As long as there are still job opps, rising avg wages should help.
Posted from my mobile device This is only for federal loan programs. Private lenders offer fixed and variable rate loans. Variable loans can be had for as low as 3%, but they reset quarterly and seem likely to go up. The lowest fixed rates I've seen are around 5%.
When considering loan options, you'll want to consider not just the rate and whether it's fixed, but also the length of repayment, available repayment plans, deferment options, rate discounts, your project payoff time, and any other benefits.