US Household Debt Surpasses 2008 High

Re:US Household Debt Surpasses 2008 High by prawn on Wednesday May 17, 2017 @10:54PM (#14364523)

Is that 7.5% interest rate standard? Is it high because of the risk inherent in young adults being unable to service the loan?

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Re:US Household Debt Surpasses 2008 High by djrogers on Wednesday May 17, 2017 @11:06PM (#14364562)

There is basically no risk, they are government guaranteed and can't be defaulted on.

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Re:US Household Debt Surpasses 2008 High by FT_intern on Thursday May 18, 2017 @08:26PM (#14372168)

No I think it depends on when you went to college. IIRC, it was 7.5% for 2006-2008 and was around 3.8-5.0% in 2010 - 2015

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Re:US Household Debt Surpasses 2008 High by callalex on Wednesday May 17, 2017 @11:40PM (#14364662)

That's the standard rate for the "federal non subsidized stafford loan"

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Re:US Household Debt Surpasses 2008 High by thatwebdude on Thursday May 18, 2017 @10:58AM (#14367759)

For a specific bracket (time attended, and level of education). Most undergrads are facings rates half of that.

Can you refinance?

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Re:US Household Debt Surpasses 2008 High by Teknoman117 on Thursday May 18, 2017 @02:34PM (#14369804)

I've been looking into it. Wanted to wait until I held my current job for a year so that I could get a better interest rate.

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