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.
Rates, fees, terms and other important details aren't available until you prequalify - but it may be worth the time.
The option to apply in-person or online is a major perk to Valley Bank, but its loans are only available in some states.
Citizens Bank offers student loans with competitive interest rates and multiyear approval and refinance options with longer repayment terms.
Having a great MBA application boosts your chances of getting into a top program.
These lenders may accept borrowers who haven’t built up their earnings.
The average down payment on a car is on the rise.
Donating your car can help someone in need and result in a tax deduction.