I mentioned before that my student loan rates had dropped a few times. Well, it’s happened again! I was actually looking forward to July 1st. Yeah, I know, so lame. But yep, my variable rate is down to 5%! So that’s pretty excellent. It went from 8.25% to 7.5% to 6%, and now to 5%.
Now something I’m not quite certain of is if I could consolidate my loans at this rate. I’d assume that the Fed rates don’t have too much distance to go (it’s at 2% right now, so really, it can only drop down 2 points, right?), and so it would be pretty low. I just don’t know for certain how to go about it. I consolidated my Federal student loans after graduation, but I just left my private loans as they were. Have any of you done this? I guess I could just call the company that my loans are with and ask them how it works, but I think I’ll at least hold off until after this weekend.
Happy Fourth of July!