- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Is there no reasonable option out there to refinance student loans?
Posted on 7/5/13 at 4:02 pm
Posted on 7/5/13 at 4:02 pm
Aside from my loans being spread out amongst 4 different lenders, I have a handful that are either 6.8% or even 8.5%. Is there no real option out there via a bank or credit union to refinance my total loan amount to a lower rate in the range of 4-5%? I just checked with my federal credit union and their best offer is 9.1% which is higher than my few loans that are at 8.5%. 
7
Posted on 7/5/13 at 4:13 pm to Jwodie
I have two at 10.5
*gag*
*gag*
This post was edited on 7/5/13 at 4:33 pm
Posted on 7/5/13 at 4:14 pm to Volvagia
Short answer: no.
Fortunately during the 90's I was able to consolidate @ 0.79%
Fortunately during the 90's I was able to consolidate @ 0.79%
Posted on 7/5/13 at 4:19 pm to titmouse
quote:
Short answer: no.
That seems to be the consensus from what I've recently read. It seems the wheels are in motion for some government-aided refinance options but that doesn't seem like something imminent.
It's just amazing to me that there aren't any reasonable student loan refinance options out there for people with great credit scores, above average earnings, and a chunk of savings to use as collateral.
Posted on 7/5/13 at 4:27 pm to Jwodie
Perhaps they need to tie the interest rate to the major...
Posted on 7/5/13 at 5:01 pm to Jwodie
All of my loans are fixed at 4.5, except one from undergrad that I consolidated back then at 0.9
Posted on 7/5/13 at 5:03 pm to Jwodie
Yeah, I just love the fact that my law school interest rates were higher than undergrad liberal arts interest rates. Not that I don't love me some liberal arts degrees, but come on, throw a guy a fricking bone. You know I'm going to pay them back
Posted on 7/5/13 at 5:19 pm to Joshjrn
quote:
You know I'm going to pay them back
Exactly.
Posted on 7/5/13 at 5:48 pm to Jwodie
Check out cUstudentloans.com. They are affiliated with Credit Karma and, with a cosignor, offer rates as low as 4%. But it's variable rather than fixed. I'm considering transferring my stupid bar study loan to them - 13% is killing me.
Posted on 7/5/13 at 6:04 pm to GaryMyMan
quote:
Check out cUstudentloans.com. They are affiliated with Credit Karma and, with a cosignor, offer rates as low as 4%. But it's variable rather than fixed. I'm considering transferring my stupid bar study loan to them - 13% is killing me.
Geez, when did you take that out? Mine is ONLY 7.9% taken out in 2011.
My federal loans were consolidated down to 7.1%. Best I could do. I wish I could get lower, since that rate doesn't help at all with how much debt I carry. Its appearing that it doesn't make financial sense to pay them off at that rate, and hope to reach 25 years of IBR.
This post was edited on 7/5/13 at 6:05 pm
Posted on 7/5/13 at 6:11 pm to Teddy Ruxpin
13.49% from 2012. It's such an anchor. My others are all 6.8.
Posted on 7/5/13 at 6:15 pm to GaryMyMan
quote:
13.49% from 2012. It's such an anchor. My others are all 6.8.
Damn. Wonder how you got that rate.
I'd love to have 6.8, but even 6.8 generates an absurd amount each month for me to pay.
Posted on 7/5/13 at 6:38 pm to GaryMyMan
quote:
13.49% from 2012. It's such an anchor. My others are all 6.8.
Damn dude. I have 2 loans left at 5.6% and 6%. The other 3 I have paid off were at 6.8%.
Posted on 7/5/13 at 6:41 pm to GaryMyMan
quote:
13.49% from 2012. It's such an anchor.
Damn even my highest rate grad plus loans are "only" 8.5%. How'd you get roped into 13.49% and for what type of loan?
Posted on 7/5/13 at 7:52 pm to Jwodie
quote:
Damn even my highest rate grad plus loans are "only" 8.5%. How'd you get roped into 13.49% and for what type of loan?
It was a "bar loan." If you aren't familiar with them, they are loans to help bridge the gap between graduation and until you are finished with the bar exam, since you are probably not working or earning any money during this painful time of personal punishment to get licensed. Also, help pay for your bar class materials which are a few thousand dollars. They usually max out at $15,000 that you can take out. I only took $7,000 for mine.
This post was edited on 7/5/13 at 7:53 pm
Posted on 7/5/13 at 7:55 pm to Jwodie
I've got 3 left at 5.8-6.0%.
I paid off two at 6.8% already.
These were around 2007-2010.
I paid off two at 6.8% already.
These were around 2007-2010.
Posted on 7/5/13 at 8:02 pm to Jwodie
No one is going to take on unsecured debt even if you can't get rid of it through bankruptcy. My wife and I have an average rate of 4.825% (6.125-2.625%) over 5 loans with a total amount of ~$193k (her vet school loans are the bulk of that). It sucks. If we could just get a rate reduction it would help out.
Posted on 7/5/13 at 8:04 pm to LSUSUPERSTAR
quote:
~$193k
Whoa.
Posted on 7/5/13 at 8:07 pm to ell_13
quote:
Whoa
I have more.
Think about that for a second.
I choose not to or I'd climb a stool with a rope around my neck and "slip."
This post was edited on 7/5/13 at 8:08 pm
Posted on 7/5/13 at 8:13 pm to Teddy Ruxpin
Remember the big push by the youth for obama for 2008 then for 2012? I cringed then and I know they're cringing now.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News