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CNN.com - Will fixed-rate student loan consolidation end? - Jun 7, 2004
by k at 11:21 am EDT, Jun 8, 2004 |
] But a proposal in Congress could shut down the party. The
] measure would end the fixed-rate option, making all
] federal student loans issued after July 2006 subject to
] variable rates. Repayments would then rise and fall each
] year in sync with interest rates. !!! [ Mixed feelings... it's not impossible that variable rates with a reasonable cap would be cheaper for me than my fixed consolidation loan, which is somewhere near 4.5 (not 3). I support the concept of getting the money to kids up front, preferably in the form of grants so that they have less loans in the first place. Subsidizing large loans seems like a less efficient use of money than just giving it to me up front, but i'm not a financial guru, by a far sight. I may have to look into this further, but my initial reasoning on this is trending positibve... -k] |
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RE: CNN.com - Will fixed-rate student loan consolidation end? - Jun 7, 2004
by ryan is the supernicety at 11:03 am EDT, Jun 10, 2004 |
k wrote:
] ] But a proposal in Congress could shut down the party. The
] ] measure would end the fixed-rate option, making all
] ] federal student loans issued after July 2006 subject to
] ] variable rates. Repayments would then rise and fall each
] ] year in sync with interest rates.
]
] !!!
]
] [ Mixed feelings... it's not impossible that variable rates
] with a reasonable cap would be cheaper for me than my fixed
] consolidation loan, which is somewhere near 4.5 (not 3). I
] support the concept of getting the money to kids up front,
] preferably in the form of grants so that they have less loans
] in the first place. Subsidizing large loans seems like a less
] efficient use of money than just giving it to me up front, but
] i'm not a financial guru, by a far sight. I may have to look
] into this further, but my initial reasoning on this is
] trending positibve... -k] Well, let me put it this way-- my current private loan rate is somewhere around five, even with still low rates and my parents are paying some eleven percent on my undergrad loans. And rates are going up a lot. |
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CNN.com - Will fixed-rate student loan consolidation end? - Jun 7, 2004
by ryan is the supernicety at 11:20 pm EDT, Jun 7, 2004 |
] But a proposal in Congress could shut down the party. The
] measure would end the fixed-rate option, making all
] federal student loans issued after July 2006 subject to
] variable rates. Repayments would then rise and fall each
] year in sync with interest rates. !!! |
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