Are Higher Federal Student Loan Rates Driving More to Private Loans?

August 14, 2026 – In a USA Today article about the key differences between federal and private student loans, Stacey MacPhetres, Senior Director, Education Finance at EdAssist by Bright Horizons, shares insights on the topic. 

Stacey MacPhetres, the Senior Director, Education Finance at EdAssist by Bright Horizons, says, "While a lower interest rate is a consideration, it should not be the only consideration. First, in most cases, students cannot borrow private student loans without an eligible co-signer. If the intent is for the student to be the borrower alone, a private loan might not be the best option. Also, borrowers under the federal student loan program are afforded rights and protections under that program that might not be available through a private lender."

Read the full article here.