The conversation between human and AI assistant.
Why are college loan interest rates so much higher than mortgage and auto loans, and the rate the banks borrow from the federal government?
Is there anything individuals can do to get a lower interest rate on their college loans?
It depends on the individual's financial situation and credit score. Some options include refinancing the loan with a private lender that offers lower interest rates, consolidating multiple loans into one to simplify payments and possibly lower interest rates, or paying more than the minimum payment each month to reduce the overall interest paid over time.