Law School Discussion

Student Loan Cosolidation Questions

1LMan

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Re: Student Loan Cosolidation Questions
« Reply #10 on: March 26, 2008, 05:45:43 PM »
All I know is my FEDERAL loans are under 3% and consolidated and I consolidated in 2003.

Re: Student Loan Cosolidation Questions
« Reply #11 on: March 26, 2008, 06:06:01 PM »
Well, dude read the f-ing rules.  You say its not a good time to consolidate, but clearly you have no clue what you are talking about.  If you had loans with a weighted average of less than 3% good for you, but I cannot shop around to get this.  The rates are fixed.

1LMan

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Re: Student Loan Cosolidation Questions
« Reply #12 on: March 26, 2008, 07:17:44 PM »
Dude, I got the consolidated rate by waiting until it hit under 3%.  You can argue with me like an as#hole or just take it for what its worth.  I don't know the "rules" nor do I care about them.  All I know is that my rate is under 3% and I have all federal loans.

Still bitter about that TTT?

1LMan

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Re: Student Loan Cosolidation Questions
« Reply #13 on: March 27, 2008, 07:30:33 AM »
Interesting, so what does that mean for federal loans in the future?  That the rates will always be high?  That sucks, that essentially would make a federal loan less beneficial than a private loan.

1LMan

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Re: Student Loan Cosolidation Questions
« Reply #14 on: March 27, 2008, 07:59:03 AM »
So what will the average rate be over a 10 year period?  Essentially, what you are saying is they decrease, then increase, each year automatically?  What happens in 2012?

This seems ludicrous.  What a stupid system. 

1LMan

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Re: Student Loan Cosolidation Questions
« Reply #15 on: March 27, 2008, 08:10:14 AM »
So it will just automatically sit at 6.8% in 2012 forever?  I imagine the law will be changed by then.  There is no way dems are going to leave the rates that high.

1LMan

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Re: Student Loan Cosolidation Questions
« Reply #16 on: March 27, 2008, 08:23:52 AM »
They should just go back to the old system where federal loans could be consolidated just like any other loan.