Loan Consolidation Interest Rates Dropping

[StillDreaming]

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I'm not sure how many people this applies to... it doesn't even apply to me as all my loans are after 2006, but for those who this does apply to it's definitely worth looking into. Check out the article!

http://www.fastweb.com/financial-ai...tes-on-federal-education-loans-to-drop-july-1

 

[NotAngie]

Thanks for posting this. I have some loans that are eligible and I've been looking into consolidating. It's not an easy thing to do right now though.

I thought this last paragraph was interesting:

Some borrowers may choose to use extended repayment to maximize the term of the historically low interest rate. However, if they do so, they should use the reduction in the monthly payment to pay down more expensive debt. Otherwise they are merely increasing the amount of interest they will pay over the life of the loan.

Everyone's warning against the dangers of debt these days. I suppose that is a good thing.