Interest Rate vs. APR: What’s the Difference?

When you find yourself applying for a student loan, two terms you’re guaranteed to come across are “interest rate” and “annual percentage rate” (APR). And if you’re new to the world of finance, you’ll also find yourself wondering what on Earth they mean and what their significance is for you.

Fortunately, we’re not about to let you go at this alone. In the article below, we’ve got a quick run-through of what these terms typically mean, how they can impact your decision to take out a particular type of student loan, and how much you will be paying for over the course of your student loan term length.

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