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The Importance of Interest Rates Interest rates play a crucial role in determining the entire price of student loans over time. Federal student loans typically have fixed rates of interest, which suggests the rate will remain the identical throughout the lifetime of the loan. In contrast, private loans may come with either fastened or variable rates, which might change over the mortgage term. Understanding how rates of interest are calculated and how they have an effect on your month-to-month funds can prevent a significant amount of money in the long
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