Graduated Learning: Life after College

I got my degree, I got a job…now what?

My student loan rates dropped again! July 5, 2008

Filed under: Personal Finance — Stephanie @ 2:32 pm
Tags: , , , ,

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!


4 Responses to “My student loan rates dropped again!”

  1. be-mine Says:

    Interesting article. I need to read it again in order to digest all the information correctly!


  2. That’s great! I need to check my student loan rates to see if they’ve changed.


  3. Hmm they wouldn’t let me consolidate my private loans – the loan companies I mean but then again I get calls all the time asking me if I want to consolidate (even though my federal loans are consolidated at 4.25) so if the rules have changed then jump on it.

    That being said my private loan is at about 5.25 which isn’t so bad. It goes down to 4.25 after I make 24 consecutive payments!


  4. theleftovers Says:

    I just read the book “Young Fabulous & Broke” by Suze Orman, and she talks alot about this in an understandable way. Maybe reading that could help? That reminds me that I need to check my loan rates. Good post.


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