Student loan rates go up Saturday for the first time in three years. Rates on the federal PLUS loan and the lower-cost Stafford loan are linked to the prime interest rate. With the Fed standing pat on rates the last several years, student loans have remained steady as well, with some student looking to refinance student loans through companies similar to SoFi. That changes Saturday with an increase of three-quarters of a point. The average Indiana graduate leaves school with 29-thousand dollars in student-loan debt. The rate hike would add 200 dollars a year in interest to that amount.