Student loans are confusing and often frustrating for families with current and future college students. Changes to the student loan landscape make headlines, creating more conflict for students who need help beyond savings, earnings and financial aid to pay for college.

Federal student loan rates are fixed and set by a formula created by Congress that changes annually. Private student loan rates change more often and can be fixed or variable. Rates are based on lender preferences,

A small decline in interest rates on federal loans for next school year is the first in five years. It comes amid turmoil in student loan and financial aid programs.