Best Student Loan Rates for May 12, 2026: College Ave Leads At 2.59%

Student loan rates have dropped as lenders have begun their competition going into the peak in-school lending season. As of May 12, 2026, private student loan lenders are offering fixed rates as low as 2.59% APR and variable rates starting as low as 3.03% APR, depending on credit profile, degree program, and repayment term.

College Ave Student Loans currently offers the lowest fixed rate loan available. Student Choice is currently offering the lowest variable rate student loan available.

While federal student loan rates are set annually by Congress, private lenders continue to adjust based on market conditions and Trea...