United Wholesale Mortgage is making CEO Mat Ishbia available for a deposition in a lawsuit regarding its All-In mandate, relenting after a judge’s scolding.
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U.S. District Judge Terrence G. Berg found the lender in contempt Monday for repeatedly refusing to make the CEO available to testify, since the court asked UWM to do so in December. Atlantic Trust Mortgage, which UWM accuses of violating All-In, wants to depose Ishbia because of his purported firsthand knowledge of the contract’s liquidated damages provision.
The order requires Ishbia to appear for a deposition no longer than four hours within the next 30 days in Oakland County, Michigan, where his company is headquartered. The wholesale leader is seeking at least $355,000 in damages from Atlantic Trust for allegedly doing business with two rivals at the same time as UWM.
United Wholesale Mortgage CEO and president Mat Ishbia speaks at the UWM Live event Thursday, May 14, 2024 at the company’s headquarters in Pontiac, Michigan. Photographer: Andrew Martinez/National Mortgage News
Photographer: Andrew Martinez/National Mortgage News
The Ishbia deposition would represent a rare questioning under oath of a mortgage CEO in recent industry litigation. To penalize the lender for its delays, the judge ordered UWM to pay for Atlantic Trust’s attorney’s fees spent specifically litigating the deposition item.
“From the court’s perspective, this appeared to be a contumacious stratagem because by then the court had twice ordered UWM to conduct the deposition,” wrote Judge Berg, describing the tactic by UWM’s counsel as disobedient.
In a statement Monday, a spokesperson for UWM said the company remains confident in its position in the case, and that the deposition shouldn’t detract from the substance of the matter. The company had previously contested the deposition request as unnecessary, burdensome and an attempt by Atlantic Trust to gain publicity.
“While UWM disagrees with this finding, UWM respects the court’s order and will comply with the order,” the statement read.
Jeffrey Morganroth, managing partner of Morganroth and Morganroth and counsel for Atlantic Trust, shared a statement on behalf of the lender, in which they emphasized Ishbia’s central role in the All-In dispute.
“It is unusual to get to the point of contempt rulings regarding discovery issues, but UWM/Ishbia’s gamesmanship and obstruction have been blatant and continuous,” the statement read.
UWM’s court tactics
UWM filed its breach of contract suit in January 2024. Atlantic Trust has denied wrongdoing, stating it then relied on UWM’s promise of a 60-day trial period to work with other lenders in violation of the All-In contract.
Although Judge Berg ordered UWM in December to produce Ishbia for a deposition, Atlantic Trust reported in March that the lender wasn’t complying with the order. When the court reaffirmed its order, UWM filed an emergency motion, and offered up other executives to be deposed.
In siding with Atlantic Trust, Judge Berg cited the defendant’s reference to Ishbia’s public comments stating that “I can control my business model.”
“The factual record in this case suggests that he was the primary, if not sole decisionmaker in adopting this initiative and the liquidated damages provision,” wrote Berg.
UWM’s similar breach of contract lawsuits against brokerages District Lending and America’s Moneyline remain pending in federal courts. Although the lender hasn’t secured final victories in those cases, it squashed dismissal bids. The company has also secured a small settlement from another alleged All-In violator, and survived an antitrust lawsuit in 2025.
Pedro Winter has been appointed Global Head of Creation and Co-Managing Director of Because Music France.
The founder of Ed Banger Records and former manager of Daft Punk is joining Because Music in Paris, the company announced on Tuesday (June 9).
In his Paris-based role, Winter will oversee front-office activities for the French territory as Co-Managing Director, with responsibility for marketing, catalog, promotion, A&R, visual, digital, commercial, D2C, sync, merchandising and brands.
He will also serve as Global Head of Creation, supervising audiovisual and sonic creative output worldwide.
The appointment extends a collaboration between Ed Banger and Because Music that began in 2005, according to the company.
“Co-‘ means coexisting, co-leading, collaborating – being and acting together. This dynamic is fully in line with the shared history between Because Music and Ed Banger Records.”
Pedro Winter
“I am very honored and proud of this appointment and look forward to further strengthening our close collaboration with all teams,” said Pedro Winter, Global Head of Creation and Co-Managing Director of Because Music France and CEO of Ed Banger Records.
“‘Co-‘ means coexisting, co-leading, collaborating – being and acting together. This dynamic is fully in line with the shared history between Because Music and Ed Banger Records, which spans more than 20 years.”
“He [PEDRO] joins us today with a shared ambition to create even greater synergy and to go further together in our mission to discover and develop artists on a global scale.”
Emmanuel de Buretel, Because Music Group
Emmanuel de Buretel, CEO and co-founder of Because Music Group, added: “We are delighted to welcome Pedro, who has been working alongside us for so long with his outstanding label.
“He joins us today with a shared ambition to create even greater synergy and to go further together in our mission to discover and develop artists on a global scale. His energy, experience, and artistic talent will be invaluable assets for the years ahead at Because France, as well as in his role within the global creative pool of the Because Group.”
Winter founded Ed Banger Records in 2003.
The label launched the careers of artists including Justice, DJ Mehdi, SebastiAn, Breakbot, Uffie and Myd.
He managed Daft Punk from 1996 to 2008 and has performed internationally as a DJ under the name Busy P.
The company describes Winter as a key architect of the French Touch movement and a central figure in the emergence of the Paris electronic scene of the 1990s.
In September 2024, Winter performed at the closing ceremony of the Paris 2024 Paralympic Games at the Stade de France.
He was named an Officer of the Order of Arts and Letters in 2024.
Because Music was founded in 2004 by Emmanuel de Buretel in London and Paris.
The label achieved early international recognition with Dimanche à Bamako by Amadou & Mariam, co-produced with Manu Chao.
Its roster has included Christine and the Queens, Metronomy, Major Lazer, London Grammar, Jorja Smith, Shygirl and Oklou, as previously covered by MBW.
Its publishing arm, Because Editions, represents the catalogs of Daft Punk and Justice, among others.
Because Music says it has been responsible for the catalog and artistic legacy of Daft Punk since 2022.
In recent years, it has expanded into hip hop and R&B through artists including Lartiste and Shay.
Because Music marked its 20th anniversary in October 2025 with Because Beaubourg, a two-day event at the Centre Pompidou that closed with a performance from Thomas Bangalter.
Entering 2026, the label’s releases have included new music from Sébastien Tellier and Rnboi, and What You Want by Angèle and Justice.Music Business Worldwide
An “infinite bowl-making machine” can make 500 salads, Tex-Mex, and poke bowls with the exact ingredients you want down to the personalized macros you’re tracking in one hour. A human worker can’t compare, according to entrepreneur Marc Lore.
“I don’t know exactly how many a single person can do, but it’s not going to be more than probably 30 an hour, maybe 45,” said Lore, who spoke at the 25th annual Fortune Brainstorm Tech conference in Aspen on Tuesday. Lore previously sold two businesses, Diapers.com and Jet, to Amazon and Walmart, respectively, for $3.8 billion before founding food-tech startup Wonder in 2018, where he serves as chairman and CEO.
The automated infinite bowl technology, which Wonder acquired from salad chain Sweetgreen, spins each bowl on a turntable while ingredients drop into place, based on the specs from an online delivery app order. The resulting bowl, said Lore, has “no errors,” so a hungry patron gets exactly what they ordered. Lore said Sweetgreen already runs the infinite bowl tech across 32 locations, and it will land in its first Wonder kitchen next month.
Lore described Wonder as a “vertically integrated food platform” that owns 26 restaurant brands including a Bobby Flay steakhouse and delivery options that include fried chicken, pizza, Chinese, and Thai food. Wonder also owns and manages the kitchens, and handles delivery after buying GrubHub in a deal valued at $650 million that closed in 2025. By combining all the different brands in a single kitchen, Lore said Wonder can serve geographies and regions that don’t have the population numbers to support larger fast-casual chains like Chipotle or Cava.
With everything included in a single profit pool, Lore claims, the prices are less expensive because the margins don’t need to support both restaurants and delivery companies. A single 10-ounce Bobby Flay steak “cooked to perfection” costs $36 and bowls are under $10, he said.
“We can stay open until 2 a.m. in the suburbs because we can operate all 26 restaurants with three people late night,” Lore added. One human staffer answers the hotline, another handles finishing the dishes, and the third works the handoff to delivery drivers.
More from Fortune’s 25th Brainstorm Tech:
Anthropic’s Boris Cherny, creator of Claude Code, says there are days he manages tens of thousands of AI agents at once
Tesla cofounder: ‘We should be really worried’ about the U.S. grid as China speeds ahead in the power race
‘Getting control where we can’: Europe wants sovereign AI, but most of the chips are from the U.S.
Lore wants this business to have an indelible impact on the public company landscape and is pursuing an IPO, something that has eluded him, he told “The Aisle” founder Jason Del Rey.
“We are going to be ready to go public early next year,” said Lore, although the market will likely help dictate the timing of a potential public offering.
Lore, who also owns the Minnesota Timberwolves and Lynx basketball teams, said he wants to builds a “long-standing, legacy business that becomes a household name” with Wonder, and he said it has a competitive moat that AI can’t disrupt. And more machines are on the way. An “infinite sauce machine” can spin up 500 sauces an hour from 152 raw ingredients, said Lore, and an “infinite beverage machine” is slated for next year.
From there, Lore said he expects that some people will want to start their own delivery-based restaurants using Wonder. Through a feature he called Wonder Create, Lore said anyone can describe a concept in an AI prompt like, “build me a fast-casual Mexican restaurant for Gen Z, for people that love cycling.” From there, Wonder will output a branded restaurant concept, with its own name, menu, pricing, photos and nutrition information, built on Wonder’s automation in about two minutes. Lore said users can push their concepts live for $10 a month.
“Think Shopify on steroids,” Lore says. “You don’t have to do anything.”
Update 6/9/26: You can login and then check this link to see if you can refer. (ht sg77) You can also check the app or check the website – click card and then scroll to bottom-right. (ht FM)
Original Post 5/29/26:
Bank of America has launched a credit card referral program. Cardholders that refer a new cardholder that is approved will receive a bonus of $100.
Limit of 5 approved referrals
Limit of $500 in referral bonuses annually
Person being referred must use your unique link
Referral bonus will be received 60 days after approval
Person being referred seems to receive the standard sign up bonus on each card
Currently you can refer people to the following cards:
BankAmericard
Customized Cash Rewards
Premium Rewards
Travel Rewards
Unlimited Cash Rewards
Rakuten has recently offered bigger additional bonuses for the applicant on the Travel Rewards & Customized Cash Rewards card. Please do not share your referrals in the comments below, if any of these cards offer an increased bonus we will consider opening a referral thread for those specific cards.
Student loan rates have continued to hold steady as we begin peak back-to-college season. As of June 9, 2026, private student loan lenders are offering fixed rates as low as 2.54% APR and variable rates starting as low as 3.03% APR, depending on credit profile, degree program, and repayment term.
Abe℠ Student Loans currently offers the lowest fixed rate loan available. Student Choice is currently offering the lowest variable rate student loan available.
While federal student loan rates are set annually by Congress, private lenders continue to adjust based on market conditions and Treasury yields. Staying current on these changes can save borrowers hundreds (or even thousands) over the life of a loan.
💰 Today’s Best Student Loan Rates At a Glance
Here are the best private student loan rates today:
Lender
Fixed APR
Variable APR
Cosigner Required?
Abe℠ Student Loans
2.54% – 17.02%
3.53% – 17.14%
No
Ascent
2.69% – 16.86%
3.65% – 16.06%
No
College Ave
2.59% – 17.99%
3.89% – 17.99%
Yes
Sallie Mae
2.89% – 17.49%
3.62% – 16.25%
No
Student Choice
2.99% – 14.74%
3.03% – 15.00%
Optional
1. Abe℠ Student Loans – Abeoffers private student loans to a undergraduate, graduate, and post-bachelor graduate certificate students, with flexible repayment options and no origination, late payment, or forbearance fees. Rates start as low as 2.54% APR. Read our full Abe Student Loans review.
2. Ascent – Ascent Student Loans is a solid choice as a private lender – as they offer both cosigner and non-cosigner loans for undergraduate and graduate students. Rates start as low as 2.69% APR. Read our full Ascent Student Loans Review.
3. College Ave – College Ave Student Loans offers some of the lowest fixed rates on student loans on the market today. They are one of the largest private student loan lenders, and have highly competitive rates on their loans. Rates start as low as 2.59% APR. Read our full College Ave Student Loans review.
4. Sallie Mae – Sallie Mae is probably one of the most well-known lenders on this list. They are the nation’s largest private student loan lender by loan volume. As a result, they also offer some of the most competitive private student loans and parent loans out there. Rates start as low as 2.89% APR. Read our full Sallie Mae review.
5. Student Choice – Student Choice is a service that works with a huge network of credit unions nationwide to match you with low cost student loans offered by credit unions. They currently have some of the lowest variable rate student loans on the market. Rates start as low as 2.99% APR for fixed rates and 3.03% APR for variable rate loans. Read our full Student Choice Student Loans review.
Federal Loans: Remember, the federal student loan interest rates are fixed. They won’t change again until the next academic year.
Undergraduate Direct: 6.52%
Graduate Direct: 8.07%
Parent PLUS Loans: 9.07%
You can find a full list of the best private student loans here >>
Fixed vs. Variable Rates: Which Should You Choose?
There’s a lot of uncertainty that borrowers don’t like with variable rates, which can make sense, but in a declining rate environment, it also opens the potential for future savings. Here’s what to know:
Fixed rates stay the same for the life of the loan, offering predictable monthly payments. They’re better for borrowers who plan to repay over many years.
Variable rates can change with market conditions, starting lower but carrying risk if the Fed raises rates again. They can make sense for borrowers who expect to pay off loans quickly.
Most private lenders allow you to check rates without affecting your credit score. Always compare both options before signing.
What To Know Before Borrowing
Before taking out a private student loan, make sure you understand exactly what you’re signing up for.
Cosigner rules: Most undergraduates need a cosigner – which is someone (usually a parent) that is just as legally responsible for the loan. Check for early cosigner release after consistent on-time payments.
Repayment flexibility: Look for lenders offering in-school deferment, interest-only options, or income-based repayment.
Discounts: Many lenders provide 0.25% off for autopay.
Fees: Compared to federal loans, private loans offer fewer fees – including no origination fees.
Safety: Federal loans offer loan forgiveness and income-driven repayment plans. Exhaust federal options before turning to private loans.
For most families, borrowing federal student loans first makes the most sense. However, for parents looking at parent PLUS vs. private loans, private loans can make more sense.
How We Track And Verify Student Loan Rates
At The College Investor, our editorial team reviews student loan rates daily from more than a dozen major lenders. We verify data using official lender disclosures, regulatory filings, and real-time rate sheets.
We only include lenders offering loans to U.S. citizens and permanent residents. All rates are updated regularly and represent the lowest available APRs with autopay discounts applied.
Our coverage is independent and not influenced by compensation. While we may earn a referral fee when you open a loan through certain links, this never affects our editorial recommendations. Our goal is simple: to help you find the most affordable path to borrow responsibly.
FAQs
How often do private student loan rates change?
Lenders can adjust daily based on bond market movements and Federal Reserve actions, as well as their own competitive goals.
Are private student loans fixed or variable?
You can choose either. Fixed rates offer stability, while variable rates change with the market.
Do private student loans qualify for forgiveness?
No. Only federal student loans are eligible for forgiveness programs like PSLF or IBR.
Is a cosigner always required?
Not always, but most undergraduate borrowers will need one to qualify.
Can I refinance later if rates drop?
Yes. Refinancing can reduce your rate and monthly payment, though you’ll lose federal benefits if you refinance federal loans.
Disclosures
Abe Student Loans
Before applying for a private student loan, DR Bank and Monogram LLC recommend exhausting all financial aid alternatives including grants, scholarships, and federal student loans.
The AbeSM student loan is made by DR Bank, Member FDIC (“Lender”). All loans are subject to individual approval and adherence to Lender’s underwriting guidelines. Program restrictions and other terms and conditions apply. LENDER AND MONOGRAM LLC EACH RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. TERMS, CONDITIONS AND RATES ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE.
* In order to estimate your available rates and loan options, with your authorization, DR Bank will initiate a soft credit inquiry. Soft credit inquiries do not affect your credit. Any rates and loan options offered to you are estimates only.
1Interest rates and APRs (Annual Percentage Rates): Interest rates and APRs (Annual Percentage Rates) depend upon (1) the student’s and cosigner’s (if applicable) credit histories, (2) the repayment option and repayment term selected, (3) the expected number of years in deferment, (4) the requested loan amount and (5) other information provided on the online loan application Rates and terms are effective as of 06/01/2026. The variable interest rate for each calendar month is calculated by adding the 30-Day Average Secured Overnight Financing Rate (“SOFR”) index plus a fixed margin assigned to each loan. The current SOFR index, published on the website of the Federal Reserve Bank of New York, is 3.625% as of 06/01/2026. The applicable index or margin for variable rate loans may change over time and result in a different APR than shown. The fixed rate assigned to a loan will never change except as required by law or if you request and qualify for an interest rate discount, or receive In-School Default Protection (see footnote 3). APRs displayed as a range: APRs assume a $10,000 loan with one disbursement. The low APRs assume a 7-year term, and the Interest-Only Repayment option with payments beginning 30-60 days after the disbursement via auto pay (see footnote 2). The high APRs assume a 7-year term with the Fully Deferred Repayment option, a seven-month deferment period, and a six-month grace period before entering repayment.
2Autopay Discount: Earn a 0.25% interest rate reduction for making automatic payments from a bank account (“auto pay discount”) by completing the direct debit form accessible on the Servicer’s website. The auto pay discount is in addition to other discounts. The auto pay discount will be applied after the Servicer validates your bank account information. Automatic payments and the associated discount will be temporarily discontinued (1) if you elect to stop automatic deduction of payments and (2) during periods when you are not required to make payments. The discount will be permanently discontinued in the event three automatic deductions are returned by the financial institution for any reason.
3 In-school Default Protection: Interest Only or Flat Payment Repayment loans that reach at least 90 days delinquent during an in-school deferment period will automatically transition to the Full Deferment Repayment option. Under these circumstances, the interest rate on an original Interest Only loan will increase by one percentage point (1.00%) and the interest rate on an original Flat Payment Repayment loan will increase by one quarter of one percentage point (0.25%). Credit reporting prior to the transition of a loan to the Full Deferment Repayment option will remain on your record. Any unpaid accrued interest at the end of an in-school deferment period may be capitalized in accordance with the Credit Agreement.
4 Loan Amounts: The minimum loan amount is $1,000, except for (a) student applicants who are permanent residents of Iowa in which case the minimum loan amount is $1,001, and (b) student applicants or cosigners who are permanent residents of Massachusetts in which case the minimum loan amount is $6,001. The maximum loan amount to cover in-school expenses for each academic year is determined by the school’s cost of attendance, minus other financial aid, as certified by the school The requested loan amount cannot cause an individual applicant’s aggregate student loan debt (which includes federal and private student loans) to exceed $300,000 per applicant applying for an undergraduate loan, $350,000 per applicant applying for a graduate, graduate certificate, Healthcare Professionals, Law or MBA loan, or $500,000 per applicant applying for a Medical or Dental loan.
5 Loan Terms: The 15- and 20- year term and Flat Payment Repayment option (paying $25 per month during in-school deferment) are only available for loan amounts of $5,000 or more. Making interest only or flat interest payments during deferment will not reduce the principal balance of the loan. Payment examples (all assume a 14-month deferment period, a six-month grace period before entering repayment, no auto pay discount, and the Interest Only Repayment option): 5-year term: $10,000 loan, one disbursement, with a 5-year repayment term (60 months) and a 11.30% APR would result in a monthly principal and interest payment of $218.92. 7-year term: $10,000 loan, one disbursement, with a 7-year repayment term (84 months) and a 8.50% APR would result in a monthly principal and interest payment of $158.36. 10-year term: $10,000 loan, one disbursement, with a 10-year repayment term (120 months) and a 8.35% APR would result in a monthly principal and interest payment of $123.18. 15-year term: $10,000 loan, one disbursement, with, a 15-year repayment term (180 months) and a 8.30% APR would result in a monthly principal and interest payment of $97.31. 20-year term: $10,000 loan, one disbursement, with, a 20-year repayment term (240 months) and an 10.83% APR would result in a monthly principal and interest payment of $99.03.
6 The student borrower has meet certain credit and other criteria, and 12 consecutive monthly principal and interest payments or lump sum payments equal to 12 monthly principal and interest payments must have been received by the Servicer during any 12-month period. While a loan is in a reduced repayment plan or while a request for a reduced payment plan is pending, borrowers are not eligible to apply for cosigner release.
7 The grace period is six months. The grace period begins on the earlier of the date (a) the student borrower graduates, (b) the student borrower ceases to be enrolled, or (c) that is 60 months from the first disbursement date, but in no case, earlier than six months after the first disbursement date. The immediate repayment option does not have a grace period.
Ascent Student Loans *Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit AscentFunding.com/Ts&Cs.
Annual Percentage Rates (APRs) displayed are effective as of 06/01/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions, and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time.
The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options. * Interest Only Repayment: 5.90% APR, with 57 payments of $49.17 while in-school/grace, 60 payments of $192.88 during the repayment term, and a total cost of $14,376.53. * $25 Minimum Payment: 6.53% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $234.12 during the repayment term, and a total cost of $15,471.73. * Deferred Repayment: 6.71% APR, with no payment while in-school/grace, 60 payments of $270.31 during the repayment term, and a total cost of $16,181.14. * Immediate Repayment: 3.65% APR, with 60 payments of $182.6, and a total cost of $10,955.77. The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options. * Interest Only Repayment: 16.06% APR, with 57 payments of $133.75 while in-school/grace, 180 payments of $147.26 during the repayment term, and a total cost of $34,130.81. * $25 Minimum Payment: 14.46% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $242.08 during the repayment term, and a total cost of $44,997.01. * Deferred Repayment: 14.89% APR, with no payment while in-school/grace, 180 payments of $281.22 during the repayment term, and a total cost of $49,857.65. * Immediate Repayment: 15.81% APR, with 180 payments of $145.54, and a total cost of $26,193.91.
Sallie Mae Student Loans ¹Rates displayed are for undergraduate and career training students:
Lowest rates shown include the auto debit discount: Additional information regarding the auto debit discount: Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. *These rates will be effective 5/26/2026.
Terms:
Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.
² For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website may be subjected to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.
Editor: Colin Graves
Reviewed by: Richelle Hawley
The post Best Student Loan Rates for June 9, 2026: Abe Leads At 2.54% appeared first on The College Investor.
In the June 8, 2026, edition of The Insider, managing editor Gretchen Gavett highlights the third installment of annual research on how people are really using AI.
With mortgage rates above 6.50% these days, the average home buyer today actually pays more in interest than the purchase price.
For example, a $400,000 home with 20% down and a 6.5% interest rate equates to $408,000 in total interest over 30 years.
And that’s if you put down 20%. Many home buyers do not put down 20% or anywhere close.
For these buyers, the math is even worse, something highlighted in a recent report from Best Interest Financial and Clever Real Estate.
While monthly payment might still be the focus, it’s yet another hard pill to swallow for a prospective home buyer today.
You Pay More In Interest Than the Home Costs?
Best Interest Financial and Clever Real Estate came up with this interesting little graphic showing a median home price would cost more in interest over 30 years than the purchase price.
The reason is simple; mortgage rates are a lot higher today than they were in the recent past.
So a $403,200 home with a 20% down payment and a 6.53% 30-year fixed would set you back $413,700 in interest.
It might seem hard to believe given the interest rate is a low 6.53%, but that’s how mortgage interest works.
Because it’s amortized over such a long period of time, and the outstanding balance is so large for most of that time, you pay a ton of interest over three decades.
With a 20% down payment, total interest actually exceeds the home price once your 30-year fixed mortgage rate is over 6.4%.
Currently, mortgage rates are closer to 6.7% so the total interest expense is even higher than this.
To make matters even worse, the typical home buyer might put down as little as 3% (what Fannie Mae and Freddie Mac allow as an absolute minimum).
In this case, an interest rate of 5.45% is high enough so that total interest equals the purchase price.
As noted though, most folks only focus on their monthly payment and what they can afford, not what they’ll actually pay in interest over the life of the loan.
In addition, most won’t keep their loans for the full term for one reason or another, whether it’s an early sale, refinance, or prepayment.
The takeaway is that the lower the down payment, the lower the rate needs to be for total interest to not exceed the cost of the home.
For example, if you put nothing down on a home purchase, a mortgage rate as low as 5.30% means interest exceeds the purchase price.
Whether that matters to you is another question.
What You Can Do to Reduce Total Mortgage Interest
If it bothers you that you’re going to pay more in interest than what you paid for your home, there are options.
The nice thing about a mortgage is it’s typically permissible to prepay it as you see fit without penalty.
So if you want to pay an extra $250 per month, you’re able to do so. That would reduce the total interest expense significantly.
For example, let’s use a $400,000 purchase price with 20% down payment and a 30-year fixed rate of 6.75%.
The total interest is just over $427,000 over the full 30 years, assuming you keep the loan to term.
Alternatively, if you pay $250 extra each month the total interest drops to $296,623.
You’re no longer paying more in interest than the cost of the home. Woo hoo!
You’d also pay the loan off nearly eight years earlier as well. Nice.
The point here is that there’s optionality with mortgages and you’re not stuck with only the “minimum payment.”
If you have the means, you can pay extra whenever you’d like and reduce that interest expense.
Using the $250 extra example, you wind up with an equivalent interest rate of about 4.97%.
Meaning a 30-year mortgage set at 4.97% would produce almost exactly the same total interest.
Read on: Try my early mortgage payoff calculator to run your own scenario.
Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 20 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on X for hot takes.
🔄️ Update: These offers will will end on Wednesday, June 24, 2026, so mark your calendars!
Chase IHG One Rewards Credit Cards are introducing two limited time welcome offers starting today. You can earn 185,000 points with the Chase IHG One Rewards Premier Credit Card and up to 125,000 points with the Chase IHG One Rewards Traveler Credit Card. Check out the details below.
Chase IHG One Rewards Premier Credit Card
Earn up to 185,000 Bonus Points:
Earn 150,000 Bonus Points after spending $3,000 on purchases in the first 3 months from account opening.
Plus, 35,000 Bonus Points after spending $6,000 in the first 6 months.
Annual Fee: $99
OFFER LINK
Card Details
Up to 26X total points at IHG Hotels & Resorts:
10X points on purchases on the card made at an IHG property, up to 10X points from IHG for being an IHG One Rewards member, and up to 6X points from IHG with Platinum Elite status, a benefit of this card.
Earn 5X points on travel, dining and at gas stations. Earn 3X points on all other purchases.
Anniversary Free Night: Cardmembers earn an Anniversary Free Night certificate with a current point redemption cap of 40,000 points on their account anniversary date each year. Cardmembers can also use existing points from their IHG One Rewards account to redeem the Anniversary Free Night at hotels above the 40,000-point level.
Automatic IHG One Rewards Platinum Elite status. Cardmembers can also earn IHG One Rewards Diamond Elite status after spending $40,000 on purchases with their card each calendar year.
Redeem 3 Nights, Get the 4th Night Free: When cardmembers redeem points for a consecutive four-night IHG hotel stay, they can receive the fourth Reward Night free redeemable at that same hotel during that same stay.
Earn 10,000 bonus points and a $100 statement credit after spending $20,000 each calendar year.
Receive a Global Entry or TSA PreCheck® or NEXUS Statement Credit of up to $120 every four years as reimbursement for the application fee charged to the card.
Up to $50 United® Airlines TravelBank Cash each calendar year – Cardmembers can receive $50 United® TravelBank Cash after registering their Chase IHG One Rewards Premier Credit Card with their United MileagePlus® account.
Chase IHG One Rewards Traveler Credit Card
Earn up to 125,00 Bonus Points:
Earn 90,000 Bonus Points after spending $2,000 on purchases in the first 3 months from account opening.
Plus, 35,000 Bonus Points after spending $4,000 in the first 6 months.
No Annual Fee
OFFER LINK
Card Details
Earn up to 17X total points at IHG Hotels & Resorts: 5X points on purchases with the card at an IHG property, up to 10X points from IHG on stays for being an IHG One Rewards member, and up to 2X points from IHG with Silver Elite status, a benefit of the card.
Earn 3X points utilities, internet, cable and phone services, and select streaming services, as well as on dining and at gas stations. Earn 2X points on all other purchases.
Automatic IHG One Rewards Silver Elite status. Cardmembers can also earn IHG One Rewards Gold Elite status after spending $20,000 on purchases with their card each calendar year.
Redeem 3 Nights, Get the 4th Night Free: When cardmembers redeem points for a consecutive four-night IHG hotel stay, they can receive the fourth Reward Night free redeemable at that same hotel during that same stay.
Earn 10,000 bonus points after spending $10,000 on purchases in a calendar year.
Guru’s Wrap-up
The newly launched Chase IHG One Rewards consumer card offers are currently some of the better ones for flexibility. The IHG One Rewards Premier card features a limited-time bonus of 185,000 points after a $6,000 spend, which is a significant increase over the standard 140,000-point offer and provides an estimated value of about $750.
Meanwhile, the no-annual-fee Traveler card offers up to 125,000 points, and it could be useful for those who prefer cards with no annual fee.
For most travelers, the Premier card remains the superior choice due to its long-term benefits, such as an annual 40k free night certificate and automatic Platinum Elite status. We did see an offer last year for 5 Free Nights valued up to 60,00 points each, which could get you a value of up to 300,000 points.
The IHG Business card also has a 200K bonus that should end soon.
Chase IHG Consumer Cards Bonus