Rates on 10-year fixed-rate private student loans increased last week. If you’re interested in picking up a private student loan, you can still get a relatively low rate. For borrowers with a credit score of 720 or higher who prequalified on Credible.com’s student loan marketplace from August 11 to August 16, the average fixed interest rate on a 10-year private student loan was 7.14%. On a five-year variable-rate loan, the rate was 10.74%, according to Credible.com.
These rates are accurate as of the week of August 11, 2025.

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