good credit score = private loans?

[sunset823]

Advertisement - Members don't see this ad

I don't know if this has been asked, but if one has a good credit score (say, above 720), would private loans have better interest rates than the Grad PLUS loan? (which is 8.5% fixed); where would one look for such "low-interest" private loans? Granted, I don't know if they exist even for prime borrowers due to the credit crunch.

 

[TMP-SMX]

In general the federal loans are always going to be better. 8.5% isn't that great, but they are fixed and you at least know that the rate won't increase like it will for private loans. The benefits and fine print of a private loan also vary depending on lender.