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Interest Rates On Student Loans

David Said:

Interest Rates on Student Loans?

We Answered:

Congratulations on recently graduating college, that is quite an accomplishment and you should feel very proud.

First of all, were any of your Federal Subsidized Stafford Loans taken out after July 1st, 2006? The reason I ask this is because this will make a difference on your interest rate on those particular loans. When dealing with your loans taken out before July 1st, 2006 those interest rates on those loans are Variable interest rates which means they have been changing every July 1st.

As of right now you are carrying the Deferment/In Grace interest rate of 6.54% on your Variable interest rate Direct Stafford Subsidized Loans. However, once you enter Repayment status when your Grace period ends, your interest rate will go up .6% to 7.14%. As compared to other students it depends on when they took out their loans, and what kind of loans they took out, so it is rather difficult to address that part of you question.

The only way to fix your interest rate on your Federal Stafford Loans is through the FFELP Consolidation Loan Program; this is why those companies are contacting you. If you do not consolidate your Federal Student Loans, your interest rate will remain Variable and will be subject to whatever the Federal Government sets the interest rate at every July 1st. Keep in mind, when those companies are stating they will get you the lowest interest rate possible, this just means they will get you the lowest interest rate possible as dictated by the Federal Government. I hope this sheds a little light on the situation for you. For more detailed information on the FFELP Consolidation Loan Program as well as details on current interest rates please visit the source below.

Esther Said:

How does the drop in interest rates affect my son's student loans?

We Answered:

NO, these lowers rates are for banks, loan institutes, and business, not those that really need the help. Sorry!

Shane Said:

What is the Canada Student Loan and Alberta Student loan interest rates?

We Answered:

its usually around 5-10%

Gregory Said:

They keep saying the student loan interest rates are going up tomorrow?

We Answered:

Interest rates on student loans are variable until you consolidate. So starting tomorrow, assuming you don't consolidate, your 4.75% will move up to the new rate. You definitely want to lock-in that 5.5% while you can.

Hope this isn't too late to help or that you were able to find your answer elsewhere...

Kay Said:

Where can I get the lowest interest rates on student loans?

We Answered:

Information and resources on how to obtain low interest rates or lower your current interest rates on Home, Auto, Credit Card, and Student Loans can be found on the following website:

http://lowertheinterest.blogspot.com



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Lena Said:

Where can I find the lowest interest rates on student loans?

We Answered:

Information and resources on how to obtain low interest rates or lower your current interest rates on Home, Auto, Credit Card, and Student Loans can be found on the following website:

http://lowertheinterest.blogspot.com



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