Student loans come with more rules and options than most people realize. This guide covers 2026-27 interest rates, repayment plans, and when refinancing helps or hurts, so you can pay them off with a real plan instead of guesswork.
01
Federal vs. private loans: Why federal loans usually come with better protections and more flexible repayment options than private loans.
02
2026-27 interest rates: What undergraduate, graduate, and PLUS loans cost this year, fixed for the life of each loan.
03
Repayment plans: Standard, income-driven, and extended plans, and how the monthly payment changes with each.
04
Refinancing - when it helps and when it doesn't: Why refinancing federal loans into a private loan gives up protections you may want to keep.
2026-27 Loan Rates
Undergraduate loans are fixed at 6.52% for 2026-27, up from 6.39% last year. The rate stays the same for the life of that loan.
Subsidized vs. Unsubsidized
The difference in who pays the interest while you're still in school.
Annual and Lifetime Loan Limits
What Parent PLUS and undergraduate limits look like under the current rules.
Income-Driven Repayment
Tying your monthly payment to what you actually earn, instead of a fixed amount.
Loan Forgiveness Programs
What Public Service Loan Forgiveness actually requires, and who tends to qualify.
Autopay Discounts
A temporary 1% rate discount for borrowers who enroll in autopay by the deadline. Check studentaid.gov for the current date.
