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It isn’t just students. Interest rates in general were raised from their historic lows after the 2008 recession into the 2020 recession in order to fight inflation. Debt consolidation and refinances were hot hot hot in 2020/21.
This is also why it is easy to find a savings account with 5% interest today. Something that has been unheard of for nearly two decades.
yeah I payed late 90’s rates which we are still below. my costs were way below though. I don’t think I would have went to college if I was coming out of high school today. I mean a four year anyway.
Almost like when the fed rate is high, ALL borrowing rates are high… Look at that.
Students, mortgages, auto loans, and the big vampire one of credit card APR rates are going up up up.
