What the Fed's interest rate decision means for your bank accounts, loans, credit cards, and investments
Private student loans are offered by banks, credit unions, and online lenders, many of which use the prime rate as a basis for setting their interest rates. The prime rate moves alongside the Federal Reserve's rate decisions. So, when the Fed raises rates, new private loan rates usually rise, and wh...
Private student loans are offered by banks, credit unions, and online lenders, many of which use the prime rate as a basis for setting their interest rates. The prime rate moves alongside the Federal Reserve's rate decisions. So, when the Fed raises rates, new private loan rates usually rise, and when it cuts rates, they tend to fall.
This story was originally published by Yahoo Finance. Use the link below to read the full article at the source.
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