They keep saying the student loan interest rates are going up tomorrow?
Does that mean that a student loan I have at 4.75% will change to a different interest rate, starting tomorrow? I also have loans that are 5.75%… I’ve started the application for cosolidation on-line and it states my interest rate would be 5.5% is that really better? What will the instrest be? If my rate will stay the same for my 4.75% loans I won’t want to consolidate them right?
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Interest rates on student loans are variable until you consolidate. So starting tomorrow, assuming you don’t consolidate, your 4.75% will go up to the new rate. You certainly 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…
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