Terrible Student Loan Consolidation Rates.?
Calling All Finance Majors…….
I have 6 student loans (federal) for about $60K total balance. One of my loans has an interest rate of 2.8% FIXED. Everything else is a variable rate, presently at ~6.8%. If I consolidate all loans, I’ll end up with about a 5.875% fixed rate. If I don’t include the 2.8% loan in the consolidation, I’ll end up with two loans, the one at 2.8% fixed rate and the consolidated loan which will become a fixed rate at ~6.8%.
The question – I want to preserve the 2.8% part of my student loan with a separate payment BUT I don’t like the 6.8% consolidated fixed loan rate. Are there other alternatives to the rates offered by loan consolidation companies that offer less than a 6.8% rate?
What have you smart gals/guys done to beat these over inflated rates???
Thanks for all advice.
What I did ?
I kept my low-interest loan (2,9%)
I consolidate my 3 other loans. (5,9% instead of 7,2%)
Good luck !
