interest rate

Refinancing student loans with LOWER interest rates?

Since I have several clients with LARGE student loans and rates around 10%, I thought I'd do some research and post how to go about consolidating/refinancing.

Several hours later, I had found interesting links on rehab and consolidtion and to SCAMS and NEW student loans, but nothing on REFIS with LOWER INTEREST RATES.

Current student loan consolidation interest rates

As of today, from https://loanconsolidation.ed.gov/appentry/appindex.html at the "current interest rate" for DIRECT LOANS:

1.   Current Consolidation Interest Rate.

SHOULD you consolidate or refinance your student loans?

There are THREE considerations:

  • Lowering the interest rates
  • Improving FICO scores
  • Convenience

I have clients with HUNDREDS of thousands in student loans at over 10% interest.

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