Student Loans in 2026: 7 Things to Know

01

Start with FAFSA

The Free Application for Federal Student Aid is free. The 2026–27 federal deadline is June 30, 2027, but state and college deadlines can be earlier.

02

Federal vs private

Federal loans follow government eligibility and repayment rules. Private loans vary by lender, rate and hardship options.

03

Know the rate

For 2026–27, Direct Loan rates are 6.52% for undergraduates, 8.07% for graduate students and 9.07% for PLUS loans.

04

See the real cost

Example: $10,000 at 6.52% over 10 years is about $114 per month and $13,700 in total. This is illustrative, not a quote.

05

Borrow with a plan

Compare aid offers, borrow only for eligible costs, keep records and estimate the payment against an entry-level salary.

Sources

Sources & notes

Federal Student Aid · CFPB · USAGov · Cover photo: Unsplash

Figures and rules can change. Verify current details before acting.

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Educational information, not financial advice.