Friday Financial Tidbit-Does it matter what the student loan interest rate is?

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With all the drama going on in Washington over whether to keep student loans’ interest rates at 3.4%, let them double to 6.8%, or adjust them to another rate, what gets lost in the shuffle is that the interest rate isn’t the problem. The problem is the fact that the average college graduate graduates with over $26,000 in debt! Below I share why you shouldn’t focus a lot of attention on your student loan interest rate and share what you should focus on instead.

Either way, don’t count on Congress helping you out and getting rid of your student loan. Instead devise a plan to borrow as little as possible. Or if you already have student loan debt, make it a priority to knock it out as soon as possible.

 

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