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10-year private student loan interest rates surge

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Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own.

The latest private student loan interest rates from the Credible marketplace, updated weekly. (iStock)

During the week of Apr. 8, 2024, average private student loan rates fell for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 10-year fixed-rate loans and increased for 5-year variable-rate loans.

  • 10-year fixed rate: 9.40%, up from 7.37% the week before, +2.03
  • 5-year variable rate: 7.39%, up from 7.10% the week before, +0.29

Through Credible, you can compare private student loan rates from multiple lenders.

For 10-year fixed private student loans, interest rates rose by over two percentage points, while 5-year variable student loan interest ticked up by more than a quarter of a percentage point.

Borrowers with good credit may find a lower rate with a private student loan than with some federal loans. For the 2023-24 academic school year, federal student loan rates will range from 5.50% to 8.05%. Private student loan rates for borrowers with good to excellent credit can be lower right now.

Because federal loans come with certain benefits, like access to income-driven repayment plans, you should always exhaust federal student loan options first before turning to private student loans to cover any funding gaps. Private lenders such as banks, credit unions, and online lenders provide private student loans. You can use private loans to pay for education costs and living expenses, which might not be covered by your federal education loans. 

Interest rates and terms on private student loans can vary depending on your financial situation, credit history, and the lender you choose.

Take a look at Credible partner lenders’ rates for borrowers who used the Credible marketplace to select a lender during the week of April 8:

Private student loan rates (graduate and undergraduate)

Who sets federal and private interest rates?

Congress sets federal student loan interest rates each year. These fixed interest rates depend on the type of federal loan you take out, your dependency status and your year in school.

Private student loan interest rates can be fixed or variable and depend on your credit, repayment term and other factors. As a general rule, the better your credit score, the lower your interest rate is likely to be.  

You can compare rates from multiple student loan lenders using Credible.

How does student loan interest work?

An interest rate is a percentage of the loan periodically tacked onto your balance — essentially the cost of borrowing money. Interest is one way lenders can make money from loans. Your monthly payment often pays interest first, with the rest going to the amount you initially borrowed (the principal). 

Getting a low interest rate could help you save money over the life of the loan and pay off your debt faster.

What is a fixed- vs. variable-rate loan?

Here’s the difference between a fixed and variable rate:

  • With a fixed rate, your monthly payment amount will stay the same over the course of your loan term.
  • With a variable rate, your payments might rise or fall based on changing interest rates.

Comparison shopping for private student loan rates is easy when you use Credible.

Calculate your savings

Using a student loan interest calculator will help you estimate your monthly payments and the total amount you’ll owe over the life of your federal or private student loans.

Once you enter your information, you’ll be able to see what your estimated monthly payment will be, the total you’ll pay in interest over the life of the loan and the total amount you’ll pay back. 

About Credible

Credible is a multi-lender marketplace that empowers consumers to discover financial products that are the best fit for their unique circumstances. Credible’s integrations with leading lenders and credit bureaus allow consumers to quickly compare accurate, personalized loan options – without putting their personal information at risk or affecting their credit score. The Credible marketplace provides an unrivaled customer experience, as reflected by over 4,300 positive Trustpilot reviews and a TrustScore of 4.7/5.

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Berkshire meeting ‘bazaar’ features Buffett Squishmallows, 60th anniversary book and giant claw machine

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The welcome sign at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

David A. Grogen | CNBC

OMAHA, Nebraska — Berkshire Hathaway shareholders are getting more bang for their buck at this year’s meeting with the annual shopping event more interactive than ever.

The conglomerate’s yearly convention kicked off Friday with a shareholder-only shopping event, called the “Berkshire Bazaar of Bargains.” With over 20,000 square feet of showroom space at the CHI Health Center in downtown Omaha, the exhibit hall is offering goods from a myriad of the conglomerate’s holdings, including Warren Buffett-themed apparel from Brooks Sports and Berkshire chocolate coins from See’s Candies.

Buffett will take the stage 9am ET Saturday to address the most pressing issues investors face, including tariffs, the market volatility as well as the state of the economy. The 94-year-old investment legend will answer shareholder questions along with his designated successor, Greg Abel, and Berkshire’s insurance chief, Ajit Jain. The Q&A session will be broadcast exclusively on CNBC.

Plush Warren, Charlie and Omaha

Squishmallows in the images of Warren Buffett, Charlie Munger and Omaha at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Alex Harring | CNBC

The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Yun Li | CNBC

The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Yun Li | CNBC

Plush toy phenomenon Squishmallows once again stole the show. The ones modeled after the “Oracle of Omaha” and the late Charlie Munger became the biggest hits at the shopping event, as shareholders snapped up over 1,000 snuggly dolls per hour.

This year, Squishmallows also introduced a new limited-edition dog character called “Omaha.”

Squishmallow, Omaha, at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Alex Harring | CNBC

The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Yun Li | CNBC

Berkshire inherited Squishmallows parent Jazwares through its acquisition of Alleghany in the fourth quarter of 2022. These squishy toys became an instant sensation during the pandemic partly thanks to celebrity endorsements. In 2022 alone, the firm sold a whopping 100 million Squishmallow units — with prices ranging from $5 to $30.

At the shopping event, the company put on display its newest product — pillows for both kids and adults —slated to launch this summer. Berkshire shareholders get to buy special edition pillow cases featuring Buffett and Munger’s cartoon figures.

One very special book

The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Yun Li | CNBC

The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Alex Harring | CNBC

Only one book is for sale at Berkshire’s book store Bookworm this year, 60 Years of Berkshire Hathaway, to commemorate the decades since Buffett took over what was then a failing Massachusetts textile company

Berkshire is selling 5,000 volumes of the limited edition book. Proceeds from an auction of copies signed by Buffett and author Carrie Sova will benefit the Stephen Center, a charity for homeless youth and adults in South Omaha.

Satisfying the sweet tooth

See’s Candies display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

David A. Grogen | CNBC

See’s Candies, one of Berkshire’s most-iconic brands, had shelves of themed chocolate concoctions available for purchase.

Tied to the camping theme for this year’s meeting, See’s sold a box of toasted marshmallow-flavored chocolates. The box was adorned with an illustration of Buffett next to a campfire. Other items for sale included chocolate coins with wrappers embossed with Buffett’s face, as well as the company’s famous peanut brittle.

Room for dessert?

The Dairy Queen display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

David A. Grogen | CNBC

Dairy Queen, which Berkshire Hathaway acquired in 1998, provided a sweet treat for attendees while they racked up steps at the bazaar. The ice cream chain’s Dilly Bars were sold for $1, while the Buster Bar went for $2.

Running shoes

The Brooks Running display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

David A. Grogen | CNBC

Brooks Running shoes on display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Alex Harring | CNBC

Brooks Running hats on display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Alex Harring | CNBC

Long lines formed at Brooks Running as shareholders gravitated towards the 2025 special edition of its running shoes with special “Berkshire Hathaway” branding on the side and the insoles. Many shareholders are also set to participate in the Brooks “Invest in Yourself” 5K fun run and walk on Sunday, the morning following the annual meeting.

Live from Omaha

Signage at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Alex Harring | CNBC

Attendees waited in line to take photos in front of CNBC’s stage, where reporters like Mike Santoli and Becky Quick have been reporting. CNBC is the exclusive broadcaster for the meeting and has a livestream available online in English and Mandarin.

Claw Crane

The Pilot truck simulator seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Alex Harring | CNBC

Feeling lucky? New to the bonanza floor this year was a gigantic claw machine.

For $10, attendees could try their luck at scooping up prizes tied to several of Berkshire’s holding companies. Proceeds go to the Hope Center for Kids, an Omaha-based organization providing after-school and summer care for children.

Living the lavish life

The NetJets display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

David A. Grogen | CNBC

NetJets, which Berkshire bought in 1998, took shareholders inside a private plane. The private jet operator also sold company-branded gear.

Getting it all home

Crowds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Alex Harring | CNBC

Not enough space for plush toys, jewelry, running shoes and books in your carryon? AIT Worldwide Logistics has you covered. The shipper offered shoppers the service of having their purchases packed and sent home. It should be a popular service, with attendees seen lugging around Squishmallow bags that were equivalent in size to a child.

Bling-bling

A jewelry display from Borsheims is seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Yun Li | CNBC

A jewelry display from Borsheims is seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.

Yun Li | CNBC

About 14 miles away from the main convention center, there’s a separate shareholder-only shopping event at jewelry story Borsheims. Berkshire shareholders browsed through one-of-a-kind jewelry, engagement rings and watches available for purchase at a discount. This 24-carat black diamond necklace from Ruchi New York is selling for about $25,000.

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Two JPMorgan ETFs providing a destination for risk-averse investors

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World's largest actively managed ETF manager on the strategy behind the fund

The money manager behind two of the world’s biggest actively managed exchange-traded funds sees a way for investors to stay defensive without leaving the market.

Jon Maier’s firm is behind the JPMorgan Equity Premium Income ETF (JEPI) and JPMorgan Ultra-Short Income ETF (JPST). They’re listed as No. 1 and No. 3 in size globally in their category, according to VettaFi.

The goal: give investors downside protection while generating income.

“When the VIX [volatility] increases, that offers the opportunity for an increased amount of income to the investor of JEPI,” the J.P. Morgan Asset Management chief ETF strategist told CNBC’s “ETF Edge” this week. “Conversely … when the volatility declines, given that the options are written out of the money, it provides some upside in the underlying portfolio.”

JEPI fell around 3% in April while volatility gripped the market. As of Thursday’s market close, the ETF is off about 4% for the year while the S&P 500 is down almost 5%.

JEPI’s top holdings include Mastercard, Visa and Progressive according to JPMorgan’s website as of April 30.

Meanwhile, the JPMorgan Ultra-Short Income Fund focuses on fixed income instead of U.S. equity. The fund is virtually flat so far this year.

“It provides a ballast in your portfolio [and] stability for those investors that are looking to protect principle,” Maier said.

‘Hiding out to weather the storm’

ETF Action’s Mike Akins notes these ETFs are satisfying an important investment need in the market.

“This category is where people are hiding out to weather the storm,” the firm’s founding partner said on the show.

According to J.P. Morgan Asset Management, the JPMorgan Ultra-Short Income Fund had the second-highest volume among active U.S. fixed income ETFs between April 3 and 10 — which marked the year’s most volatile weekly span on Wall Street.

Correction: Jon Maier’s firm is behind the JPMorgan Equity Premium Income ETF and JPMorgan Ultra-Short Income ETF. An earlier version misstated his status.

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AAPL, CART, NVDA, XYZ and more

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