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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask Me About Student Loans!
 
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Remulak
Jun 8, 2001
I can't count to four.
Yams Fan

BonoMan posted:

With the talk about loan forgiveness ramping up again, I looked at the consolidation process. On the Federal Aid site, when it imports my loans, it says they're all a 0% interest currently and then applies a 6.875% interest rate to the consolidated amount.

Which is a whole heap of gently caress no. My actual interest rate is either .320% or 2.070% (there's several small loans and they're all either of those two specific amounts. Nothing inbetween).
Goddamn, yeah, mine are 7-8.128% and saw the zero percent offer for a consolidation. Goddammit sucked when I realized it was wrong.

This is an ask thread though, so knowing the above the question is:
I have loans I consolidated back in 2005 not long after I graduated and STILL have 122 payments left. They're showing as DIRECT CONSOL now and are all 8.125%.
Because I'm a GenX stereotype, I also am now the proud owner of a child with a DIRECT PLUS loan at a shade over 7%.

Looks like the some of the direct plus can come off with forgiveness, but is there any way to at least reduce the interest on these things? For many years interest rates were way lower on consolidation, but the only answer I got on reconsolidation was 'lol no, you're hosed'. Anything changed?

Remulak fucked around with this message at 20:03 on Aug 26, 2022

* # ¿ Aug 26, 2022 19:51
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# ¿ Apr 29, 2024 05:53
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Remulak
Jun 8, 2001
I can't count to four.
Yams Fan
Holy poo poo I thought I was ineligible and just got a check for my balance outa nowhere.

* # ¿ Mar 12, 2024 03:50
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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask Me About Student Loans!