loan refinance

[sosoo]

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hi i wonder if anyone here can advice me on loan refinance? i have Direct Loans sub/unsub and working on my exit interview n the interest rate looks pretty high. 7.8%? so i wonder are there any legitimate refinancing options available? i am with BoA n so i will definitely look into that as well. any productive comments will be greatly appreciated.

 

[mustang sally]

I'm not sure what your private options for refinancing might be. As far as through the government, I'm sure you can still consolidate your loans; however, the way I understand it these days is that the interest rate on Stafford loans is fixed. So consolidating won't get you a lower interest rate. And since the interest rate is fixed, consolidating isn't necessary to avoid getting a higher interest rate in the future. Someone please correct me if I'm wrong.

 

[SkiPharmer]

7.8%?!??! Damn, I graduated in 2008 and I thought mine at 5.65% were high...........what a rip off! My house is at 4.75%! Guess which one I am paying off first. All these schools are laughing all the way to the bank!