Federal student loan interest just dropped to its lowest rate ever. The interest rate for undergraduate student loans disbursed after July 1 is 2.75%. It’s an almost 40% decrease from last year’s rate for 2019-20 loans, which was 4.53%. Graduate and PLUS loan interest rates are also at record lows: 4.30% and 5.30%, respectively. A…

Cecilia Clark is a writer at NerdWallet. Email: cclark@nerdwallet.com.

The article It’s Now Cheaper Than Ever to Borrow Money for College originally appeared on NerdWallet.

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