I already consolidated my student loans several years ago and the interest rate is 7.25%. I'm constantly getting things in the mail saying I could get 3-4% but I don't think I can re-consolidate can I? Is there any way to lower my current rate?
I wouldn't think there's any reason you can't. I'd do mine but they're already at 4.25%. Given the volume of people consolidating their SLs right now I'm sure you're elligible. You could always go to the loan consolidation site and www.ed.gov (I think that's the DOE website) and see for yourself.
I asked the same question a week ago, and the answer I got was "no". Unless you have a new unconsolidated loan, you can't re-consolidate consolidated loans to take advantage of the new rates.
Re: Lower student loan interest rat Thanks marci, I sure wish that weren't the case. On a $21K loan those 3-4 percentage points would sure help a lot.