2006-06-29 17:05:51 · 5 answers · asked by BooBoo 1 in Education & Reference ➔ Financial Aid
Better hurry up it goes UP July 1, 2006
2006-06-29 17:09:17 · answer #1 · answered by jennifersuem 7 · 0⤊ 1⤋
To consolidate your loans again you would need new loans that have NOT been consolidate to add to your previously consolidated loan. 2.6% is an excellent rate and the consolidator would take the weighted average of the 2.6% interest rate with the interest rate of you new loans to determine a rate that would fall between the 2.6% and the current rate for consolidation 4.75% or 5.375% depending on if you are in-school or in repayment.
Most students who consolidated at a lower rate in the two previous years are choosing not to consolidate b/c it would raise your rate. If you want to see what would happen in your situation use the student loan consolidation calculator at www.finaid.org
Good luck with your decision but remember you only have until the end of the day today to consolidate.
2006-06-30 04:01:18 · answer #2 · answered by Sara M 2 · 0⤊ 0⤋
If it's a federal student loan then no because you can only consolidate once and at 2.6 percent that rate is really low.
2006-06-29 19:10:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It depends. Is the rate a fixed rate or one that can fluctuate? The interest rates keep going up and with that so can the loan, so be careful, only do it if you can get a fixed loan at a lower rate. If it is not fixed don't do it.
2006-06-29 17:10:29 · answer #4 · answered by Renee V 1 · 0⤊ 0⤋
You can't get 2.6 or anything close to it anymore. You are fine. I would advise you to stay the course
2006-06-29 17:10:30 · answer #5 · answered by Michael R 4 · 0⤊ 0⤋
2.6 is pretty good, I can't imagine you getting a better rate.
2006-06-29 17:10:19 · answer #6 · answered by Robsthings 5 · 0⤊ 0⤋