[eszed]

> close to the prime rate

Where do you get that? Federal loans are currently 6.5% for undergraduate, 8-something% for graduate. Private loans are higher than that.

[leereeves]

> Federal loans are currently 6.5% for undergraduate, 8-something% for graduate

And the current prime rate is 7.5%.

https://www.wsj.com/market-data/bonds/moneyrates

[eszed]

Ah, fair point. My 2008 graduate school loans were 6.8%, when the prime rate was 3-something%, so I'm reacting to old grudges. (And, of course, much higher interest rates, which I still haven't thoroughly assimilated.) Looks like the formula changed ~10 years ago, which is a good thing.

I retract my previous comment. Thank you.