The term student loan rate refers to the interest rate that you are getting on your student loan. Rates may vary greatly depending on several different measures. When referring to student loan rates credit score and amount of income don’t matter as much as when trying to get a home loan. Typically government backed loans give much lower interest rates then privately backed loans. usually student loan interest rates range from 1% to 30% so shopping for a good rate is definitely worth your time, especially if your borrowing a large amount of money.