Lower student loan rates!

SigKapSweetie · #1 01-17-2007, 05:41 PM

HAH! Now I feel smart for not locking my rate in at 6.5%, which is what Financial Aid told everyone to do because 'the rates are only going to go up'.

Kevin · #2 01-17-2007, 06:06 PM

Quote:

Originally Posted by SigKapSweetie

HAH! Now I feel smart for not locking my rate in at 6.5%, which is what Financial Aid told everyone to do because 'the rates are only going to go up'.

That's probably some of what the bank spammail you received told you. If your Financial Aid office told you that, I'd be surprised.

PeppyGPhiB · #3 01-17-2007, 06:47 PM

Right. Stafford loans are low-interest loans. They cap them I think at around 7% interest max. And i don't know about other schools, but i had no unsubsidized staffords for my undergraduate studies...maybe that changes in grad school?

SigKapSweetie · #4 01-17-2007, 06:54 PM

Oh, it was definitely our financial aid office. They had a presentation and everything. I got the feeling it wasn't the smartest idea, so I didn't do it, but I'm one of the few people in my class who didn't.

#5 01-17-2007, 08:53 PM

So if your in repayment of a student loan the rate you locked in at
when you first took it out will lower to the rate cut their proposing? or is it for new loans that students are taking out now?