University of California, Berkeley: What is the key fixed-rate versus ARM distinction?

DIRECT ANSWER

Source guidance recorded on 2026-10-15. Confirm the applicable policy year, cohort and property jurisdiction before relying on time-sensitive facts. This is general U.S. financial or tax educational guidance from the cited authority; school-specific eligibility, loan terms and an individual tax outcome are not established.

CFPB says the choice affects whether the interest rate and monthly principal-and-interest payment can change.