These factors are as follows:⓵ Student loan interest ratesThe interest rate is probably the most important factor when deciding the tune of your loan and the type of loan you would be taking. ⓶ Student loan origination feesThe origination fee is a one-time payment you are required to pay when you take out the loan. ⓷ Student loan repayment termThe repayment term is how long the lender is giving you to repay the loan. ② Private student loansThe meaning of a private student loan and its intricacies are determined by the lender. The average student loan debt sits at about $38,000, while the average federal student loan debt is slightly lesser at about $36,000.

Source: The Nation September 13, 2021 02:48 UTC