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Author Topic: Are there fixed interest rate loans available to law students?  (Read 1158 times)

Oneof2

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I know that the rate at access groups is adjusted quarterly. 
Does anyone know if the other lenders offer fixed interest rates? 

Here are the Prime and Libor outlooks for the next 6 months (not so good)...
 
Prime Forecast: http://www.neatideas.com/prime.htm
Libor Forecast:  http://www.neatideas.com/economics/3mlibor.htm



HankieB

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Re: Are there fixed interest rate loans available to law students?
« Reply #1 on: May 02, 2005, 10:35:43 AM »
IIRC, Stafford loans have a rate cap of somewhere in the neighborhood of 8.5%.  As for private loans, I think that you will have a hard time finding something that is a fixed rate, unless you have a house and can take out a fixed rate home equity loan. I have never researched this, though, so I can't say for certain.

Keep in mind that prime hasn't been above 10% since the late-80s, and hovered around 8.5% in the late-90s, when the economy was booming.  (I have historical charts of interest rates because of my job, so I'm not making this up).  As long as we don't experience stagflation (like in the 70s) prime should stay below 10%.  Can't speak for LIBOR, however...

This is just another reason to minimize your loans as much as you can.