What is average interest rate on private student loan?

My DH is thinking of going back to school and I wanted to know what the average interest rate on private student loans were. I don't think he can get a grant or scholarship or student loan because of his circumstances so were looking for the cheapest private student loans. Has anyone here had any experience with private student loans and what is the average interest rate on private student loans. We want to consider all the options before we make a decision. Any ideas? we'd love to know!

A lot of people dismiss Federal Student Aid and Scholarships without checking if they are eligible, you should definitely get your husband to check whether or not he might be eligible for help.

The best way to get the cheapest Private Student Loan is through price comparison sites such as Credible.com and SimpleTuition.com. I used SimpleTuition.com to get a quote on a student for an American University and the best results were College Ave and Citizens Bank who were offering 2.01% to 8.3%. The real rate you get will depend on your husbands credit score.

To compare a Federal Direct Loan interest is around 4.39% which is usually fixed. The Private student loans might vary from year to year so while 2.01% from College Ave might seem attractive the rate might swell higher when you graduate and there will be no loan forgiveness if you fail to make repayments on time.