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- Oct 12, 2014
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So I'm into the wonderful time of intern year of getting all my loans in order to be on a repayment plan. I've got my Staffords already into repaye and am looking at what to do with my Perkins now. I'll be paying 156 a month for my Stafford on repaye. I just got an email that I'll owe 190 a month for the Perkins if I leave them as is. I was looking into putting them on my repaye plan also and saw they needed to be consolidated. My Stafford loans have rates of 6.55, 5.16, 5.96 and 5.59. So am I right in assuming that the 5% would just be averaged among all of these?
Has anybody done this recently? I'm thinking that lumping them all together and making the smaller monthly payment now is what I'll need to do even if it ends up costing me a little more in the long run. I'm just looking for anyone else's experience with this.
Has anybody done this recently? I'm thinking that lumping them all together and making the smaller monthly payment now is what I'll need to do even if it ends up costing me a little more in the long run. I'm just looking for anyone else's experience with this.