I have a consolidated student loan totalling almost $15k that is costing me over $100 a month in interest. The rate is fixed at 8.25%. I am trying to come up with something, anything, that would allow me to get out of this high rate and into something where I can actually pay down the principle in THIS decade ) Any ideas? (I realize this is NOT a student loan forum and welcome any tips on where to go for student loan questions.)
I can't be of much help, but someone on this board recently said something about--if you have already consolidated your loans, you can't do them again--unless you have new ones that aren't part of the consolidation. I'm not sure what post I read that in, and I'm sure people here can add to that, but thought I'd post my very little bit of SL knowledge!! LOL
Thanks. Yes, I am aware that you can only consolidate once, unless you have new qualifying loans. I actually had considered taking out a new loan just to save money on the interest, but the bit of research I did tonight seems to indicate that I could only get the rate down to the average of the old and new loans. Bummer.
