I have consolidated my subsidized and unsubsidized loans through Student Xpress, however, the interest rate is currently 7.25% which people have been telling me it is too high. One of my friend who consolidated through Nelnet, says her interest rate was 5.5% or so. Will I be able to switch already consolidated loans from one company to another?
Archive for the ‘student loan interest rate’ Category
What is the average interest rate for consolidated student loan interest?
Monday, February 8th, 2010Student Loan Interest Rate…?
Monday, November 30th, 2009I am confused about two different offers I’ve been given for student loans. One lender is offering me the Prime Rate (currently 8.25%) + 0% extra, while the other lender is offering me the LIBOR rate (currently 5.360%) + 3.6%. I was told that the Prime Rate decreases slower than the LIBOR (if it does occur). The LIBOR fluctuates quarterly, while I guess the Prime Rate changes annually?
Which is a smarter deal? I find this confusing.
Can anyone tell me the interest rate on student loans in Australia?
Wednesday, November 4th, 2009I have an Australian friend who studied for a year at university in Australia. She then came to New Zealand and because she has never worked in Australia since then, she has never paid back the money (I think the loan was 00). How much is she likely to owe now, can anyone tell me what the interest rate is on the loans? I think she was there in about 1989. If she ever returned to Australia to work she would have to repay the money so every year the debt will be increasing.
Student loan interest rates? Help!?
Tuesday, October 27th, 2009I’m currently comparing private student loans for this year of college. I’m going to need ,000 for the whole year.
I was reading on a site that was talking about libor and prime rates. What do these mean? I read that libor +2% and prime – .50% are the best rates you could probably get with a private loan (comparable to a federal loan), if you have good enough credit. I also know that loans with no fees are good.
These are the loans I found that have no fees:
US Bank = Prime + 1.95%
Chase = 3 months Libor +3.65%
Discover = Prime +1.0%
Which of these loans are best? My parents will be cosigning and have a decent credit score.
All of this student loan stuff is very overwhelming to me. If you could help me understand it better, that would be great.