How the Federal Reserve impacts personal loans
The Federal Reserve just lowered interest rates for the first time in four years.
The better you understand how loans work and how lenders think, the better equipped you are to save on your loan.
— Pippin Wilbers
About the author
Pippin Wilbers is a Bankrate editor. He joined the personal loans team in 2024, though he's also contributed work on the auto loans, credit cards, student loans and small business loan verticals. Pippin is passionate about demystifying complex topics, such as car financing or finding the best personal loan, and helping borrowers stay up-to-date in a changing and challenging borrower environment.
Pippin stays on top of industry news sources, such as TransUnion and Experian. Working with reporters Hanneh Bareham and Denny Ceizyk, he analyzes industry data and trends and asks: "What does this mean for borrowers?"
Pippin lives in Denver. Before joining Bankrate, he brought vital news to his community as a small-town newspaper reporter. In his spare time, he enjoys foraging for mushrooms, reading, and dabbling in amateur entomology.
The better you understand how loans work and how lenders think, the better equipped you are to save on your loan.
— Pippin Wilbers
The Federal Reserve just lowered interest rates for the first time in four years.
If you’re willing to brave the elements to car shop, you may be able to get a good deal.
Consumers Credit Union (CCU) is a membership-based credit union that offers new, used and auto refinance loans.
Personify is known for offering loans to people with below-average credit.
CarsDirect is not a direct auto lender but rather a marketplace that presents drivers with loan options directly from its network.
Municipal Credit Union offers impressive member benefits for those looking to improve their financial wellness — but only for New Yorkers.
While you can potentially qualify with several lenders at once, RefiJet's process is not entirely online.
Chicago Student Loans by A.M. Money offers merit-based loans and income-driven repayment — but only to Illinois students.
Edly's income-based loans are best for students who don't need to borrow much.