Federal student loan rates are fixed and set by a formula created by Congress that changes annually. Private student loan rates change more often and can be fixed or variable. Rates are based on lender preferences,

If you're enrolled in the Saving on a Valuable Education repayment plan, expect to pay more once the payment pause ends.

If federal student loans are privatized, borrowers may benefit from increased competition but would likely lose debt forgiveness and more favorable repayment programs.