Three percent
Here’s the silver lining to the whole sluggish economy thing: the interest rate on my Stafford loans have gone from 7.22% to 4.21%. That’s lower than the rate on any of my other debt. It sounds like I can consolidate the two loans and therefore lock in the lower interest rate. For those of you who have done this before, is there anything I need to look out for when doing a student loan consolidation?
August 15th, 2008 at 7:54 am
Not really - neither my wife nor I had any problems. I actually consolidated with my original lender, so it was very smooth. You do want to speak to someone who can provide you with the facts - fees, the rate - rather than a general sense.