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Started By
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What is your student loan interest rate?
Posted on 9/19/14 at 3:34 pm
Posted on 9/19/14 at 3:34 pm
Curious to see what some rates of others still paying off their loans
Currently at 2.33%
Currently at 2.33%
Posted on 9/19/14 at 3:38 pm to Books
How in the hell did you get that rate? I'm at 7.9 and 6.8
Posted on 9/19/14 at 3:40 pm to williejameshuft
After some quick reading, I thought mine was unusually low, which is why I'm asking. It's a variable that was 2.39 last yr
Posted on 9/19/14 at 3:46 pm to Books
1.625%
Graduated in 2005, right after graduation, just before Katrina actually, consolidated them into a loan with a 2.875% rate.
I get a 0.25% reduction for automatic debit payments. Then after 36 months (I think) of ontime payments, I got a 1 percent rate reduction.
So it went from 2.875 to 2.625 to 1.625.
That was back in the days when student loan rates were super low due to government edict.
EDIT: I should also add that it's a fixed rate.
Graduated in 2005, right after graduation, just before Katrina actually, consolidated them into a loan with a 2.875% rate.
I get a 0.25% reduction for automatic debit payments. Then after 36 months (I think) of ontime payments, I got a 1 percent rate reduction.
So it went from 2.875 to 2.625 to 1.625.
That was back in the days when student loan rates were super low due to government edict.
EDIT: I should also add that it's a fixed rate.
This post was edited on 9/19/14 at 3:53 pm
Posted on 9/19/14 at 5:27 pm to LSUFanHouston
quote:
Graduated in 2005, right after graduation, just before Katrina actually, consolidated them into a loan with a 2.875% rate.
Same here thought I didn't get the nice discounts you have!
Posted on 9/19/14 at 5:58 pm to Books
2.08% (with auto draft deduction)
all 4 Stafford loans at the same 2.08%
all 4 Stafford loans at the same 2.08%
Posted on 9/19/14 at 6:34 pm to BACONisMEATcandy
3.8%
Paid down a good chunk of principle early and don't mind paying only 50$/month for the next 10 years and having this report as low utilization and consistent on time payments for credit.
Paid down a good chunk of principle early and don't mind paying only 50$/month for the next 10 years and having this report as low utilization and consistent on time payments for credit.
Posted on 9/19/14 at 6:43 pm to GenesChin
I feel bad for those with the high interest rates. For me it is just a monkey on my back that I will one day just pay off. I've had no real incentive to pay it off due to other debts. Once my truck is done it will the only note I have left and I will just clear it out I guess.
Posted on 9/19/14 at 7:21 pm to Books
Consolidated several years ago when the rate was the 90 day tbill (then at around 0%) + a small margin. I'm less than 3%, want to say the low 2s.
Got the .25% reduction, but they must have done away with the other bonus by the time I consolidated.
Got the .25% reduction, but they must have done away with the other bonus by the time I consolidated.
This post was edited on 9/19/14 at 7:24 pm
Posted on 9/19/14 at 9:37 pm to jmarto1
That's kind of how I am. When I set it originally, I did it for 20 years, not really knowing any better. But with the rate so low... I'm in no hurry to pay it off faster than it amortizes. Putting money toward other objectives right now... and eventually when it gets down to just a couple K, I'll just pay it off.
Posted on 9/19/14 at 9:59 pm to LSUFanHouston
I paid mine off quickly because it was almost 7% but the fixed interest rates now compared to 10 years ago are a huge difference for people finishing school.
Posted on 9/19/14 at 11:07 pm to Books
2% and change. Was just going to pay them off, but I'm making 4.75% tax-free on some munis so I'm just letting the $89/month go and pocketing the difference.
Posted on 9/19/14 at 11:15 pm to jeepfreak
6-7 something, half my payment goes to interest :
Posted on 9/19/14 at 11:35 pm to Books
6.5%....or, more than my car note rate and my mortgage rate combined (with room to spare)
Posted on 9/20/14 at 12:39 am to Books
6.55
I only have like 8k in loans though.
I only have like 8k in loans though.
This post was edited on 9/20/14 at 12:41 am
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