For undergraduates, the federal student loan rate is 4.53%. This is a very high interest rate, especially for students who have a very active and busy lifestyle and do not have time for a job outside of college studies. Students who take out loans end up taking years, and sometimes decades to pay off their debt, further putting them at risk financially. The federal student loan interest rate should be lowered substantially. This does not only apply for students with good credit but the students who commit to college and graduate in a reasonable time frame should also be able to get a lower interest rate on their loans. In the United States, one in five adults carries student loan debt, this greatly hinders their ability to succeed and be financially independent.