U.S. student loan interest rates plummet amid coronavirus downturn

Federal student loan rates have fallen to the lowest on record, offering savings for new students borrowers as the coronavirus pandemic batters the economy and paralyzes the U.S. university system. Amid the coronavirus outbreak and the economic downturn, interest rates on federal student loans taken out during the 2020-21 academic year will be 1.78 percentage points lower than the previous year — falling from 4.53% to 2.75%. Graduate students…