Summer is the prime season for student loans as students and families finalize their financial plans for the fall semester. If you’re borrowing for the upcoming school year, make sure you’re mapping out your expenses and comparing lenders carefully.

Current federal student loan interest rates depend on the type of loan. For loans disbursed between July 1, 2025, and June 30, 2026, rates are: Undergraduate (subsidized and unsubsidized): 6.39% Graduate (unsubsidized): 7.94% Plus (parent and graduate): 8.94%

To lower your student loan interest rate, your options include signing up for autopay, consolidating or refinancing your loans, and improving your credit score.