Will my monthly student loan payment go down?
If my student loan interest rate goes down due to a lender reduction will this decrease my minimum monthly payment or will the monthly payment stay constant and pay off my loan faster?
Your student loan should have a fixed interest rate — if this is the case, then even if interest rates go down, yours will not unless you consolidate at a better interest rate. Yes, your interest rate goes down, so should your monthly payments; however, you can choose to keep paying your normal amount and pay it off quicker.
