Interest rates are important. Consider mortgages: If you're buying a $400,000 home with a fixed-rate mortgage and putting 20%, or $80,000 down, you'll pay around $1,850 per month if your interest rate is 4%, and around $2,675 monthly if your rate is 8%. Interest rates also dictate how much you can receive from bonds, savings accounts, and other things, and they matter a lot when it comes to student loans as well.

Here are some things to know about student loan interest rates.

Image source: Getty Images.

Continue reading

Source Fool.com