Understanding the basic concept of variable vs. fixed rate student loans if fairly simple. A variable interest rate will change periodically over the term of the loan whereas a fixed rate will not. The questions many borrowers face is, “which is better?” Answering that question is more difficult than you might think–at first. Let’s break down both, so you can make an informed decision about which type to choose for your student loans.
Student loans are not a one-size-fits-all deal. In fact, there are many types of loans; some may require cosigner, while others don’t even require a credit check. In this section, we’ll help you understand the nuances between federal and private student loans, as well as Parent Plus Loans.