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Elimination of Canada Student Loan Interest. Effective April 1st, , the Government of Canada has permanently eliminated the accumulation of interest on all. 14 Best Private Student Loans ; Sallie Mae Undergraduate Student Loan · Mid's · % ; College Ave Private Student Loan · Mids · %. interest rate on your student loan. Plus, you'll get the convenience of a faster student loan application and managing all your private student loans with one. Federal student loans interest rates for the school year range from % to %. As of July, , all federal student loans have fixed interest. Loan Rates · Deposit Rates · Credit Card Rates · Mortgage Rates · Report an In order to qualify for a CEFCU Private Student Loan, I will need a cosigner.