Private Student Loan LIBOR Rate

The London Interbank Offering Rate (LIBOR) is an index that is widely used all over the world as an economic barometer. As the name suggests, it is set by the British Bankers' Association and is based on lending rates between banks in London.

Although the rate is updated daily, most banks and lending institutions tend to use longer run figures such as the 3-month and 6-month LIBOR to simplify the process and overhead of updating their customers' accounts. You usually can figure out which figure a bank uses by looking in the disclaimers of its "Full Terms and Conditions" section.

Compare Private Student Loan Interest Rates »

What are the current LIBOR figures?

Use the widget below to pull up the most up-to-date figures via WolframAlpha.

What can I do to secure a low interest rate?

The trick is to either have a strong credit score and long history, or find a creditworthy co-signer. A co-signer could be a parent, family member or even an ordinary friend -- they just need to have clean and established credit.

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