Re:More Than 40% of Student Borrowers Aren’t Making Payments
by marklyon on Wednesday April 06, 2016 @09:05PM
(#11443820)
I had a similar problem - I was around 7.8%. I refinanced (with Earnest, though SoFi and others provide similar service) and got it down to 4.71. Increased my payment a bit, and cut my term down by more than a decade. Now, just 117 more payments to go.
[ Parent
| on HN ]
Re:More Than 40% of Student Borrowers Aren’t Making Payments
by Symbiote on Thursday April 07, 2016 @02:29AM
(#11445160)
These figures shocked me. I'd assumed when Americans said "federal" loans they had a low interest rate.
My British student loan, from the government, is currently at 0.9%. It's never been more than 5%. I have cash I could use to pay it off, but it earns more interest in a savings account. (And may be useful if I want an extra £12000 towards a house at some point.)
http://www.studentloanrepayment.co.uk/portal/page?_pageid=93...
Re:More Than 40% of Student Borrowers Aren’t Making Payments
by cylinder on Thursday April 07, 2016 @11:06AM
(#11447819)
6.8% and 8.4% on my grad loans. I believe they eliminated the 8.4% loans after I graduated. There's even a 4.5% "loan origination fee."
My loan balance was $96k when I graduated 4 years ago. I have not made any real payments on it and the balance is now $125k from interest capitalization.
Note, I went to one of the lowest tuition schools in the nation for my grad program and lived at home with my parents the whole time.