If you're someone with a lot of student loan debt, you're probably more familiar with the negatives around interest rates. But borrowing money isn't necessarily a bad thing, and interest rates are a much more interesting and important topic than you might think. I'll break down what interest rates are, why they've been rising steadily in recent months, and give you some guidance on making big decisions that will impact your financial future.

In today's episode, you'll find out:

• How interest rates are set in the economy
• The different between term premium and credit premium
• Why borrowing money costs more than paying with cash
• When it makes sense to borrow instead of saving and paying with cash
• Why student loans cost more than mortgages
• How pawn shops and payday lenders prey on the poor
• Why student loan interest rates are usually lower if you refinance
• Why interest rates don't matter if you're pursing PSLF or long-term forgiveness
• Why the government might focus on cancellation vs. lowering student loan interest rates
• My prediction on student loan interest rates for 2021 and 2022

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