Nonprofit and State-Based Lenders Provide More Affordable Education Loans According to New Report
A report by the American Action Forum (AAF) found that nonprofit and state-based lenders issued a larger share of education loans at lower interest rates compared to for-profit lenders. The data shows these lenders offered 88% of their loans between 5–8.99%, while Sallie Mae, used as a proxy for for-profit lenders, had 69% of its loans at 9% or higher in the same period.
Topics: for-profit lenders interest rates nonprofit lenders student loans