Rates on 5-year variable-rate loans for well-qualified borrowers who use the Credible Marketplace to refinance student loans went down this week,

The average rate for a 10-year fixed-rate refinance loan was 5.46 percent, which was the same as the week before and up from 3.46 percent a year

ago. Rates for this term hit their lowest point for 2022 so far during the week of January 10, when they were at 3.44%.

The average rate for a 5-year variable-rate refinance loan was 3.20 percent, down from 3.99 percent last week and up from 2.71 percent a year ago.

The lowest rate for this term so far in 2022 was during the week of July 4, when it was 2.51%. changes in student loan refinancing rates every week

If you want to know what kind of student loan refinancing rates you might be able to get, you can use an online tool like Credible to compare

options from different private lenders. Your credit score won't change if you check your rates.     Rates for refinancing student loans now, based on your FICO score

As a way to help the economy recover from the effects of the COVID-19 pandemic, interest and payments on federal student loans have been put

on hold until at least August 31, 2022. As long as this relief is in place, there's not much reason to refinance federal student loans. But many people

with private student loans are taking advantage of the low interest rate environment to refinance their education debt at lower rates.

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