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A comment on More Than 40% of Student Borrowers Aren’t Making Payments. Parent comment

Re:More Than 40% of Student Borrowers Aren’t Making Payments by iambateman on Wednesday April 06, 2016 @10:27PM (#11444233)
If you don't mind, was refinancing a good move for you? What rate were you able to get it down to?

We're at 6.8% right now.

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Re:More Than 40% of Student Borrowers Aren’t Making Payments by srj on Thursday April 07, 2016 @07:21PM (#11451494)
The consolidation loan rate was the weighted average of the loans consolidated, so it didn't offer any benefit beyond making the rate fixed. I think the rate ended up being ~5.5%.

Consolidation loans also offer a longer repayment timeframe I believe. In this way if you make the payment amount small but pay double, the extra will be entirely on the loan principal.

Back when I consolidated SoFi (and probably others) didn't exist. It might be worth comparing rates and terms with them as well.

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Re:More Than 40% of Student Borrowers Aren’t Making Payments by needcaffeine on Wednesday April 06, 2016 @10:55PM (#11444364)
When I consolidated my loans, they became fixed at 6.8%. Meanwhile my wife was lazy and did nothing and then the great recession happened and her loans have been at 3% for years and years.
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