Did you consolidate your Stafford loan?

[○∙◄☻¥tπ[╪AV┼cVê└]

When Bush ran for-reselection Stafford loans had a 2.8% interest rate.
As of today, it's now 6.8%.

[Moooooo]

Unfortunatley, I did not.  I received a sh**t-load of literature, but I thought it was just another loan scam.

... damn

But somethign doesnt seem right here.  My loans are the deferred type and I thought I agreed to a set interest rate.  How can they magically up the interest rate I agreed to on contract?

[Jake]

Option 3

[dazzleman]

Unfortunatley, I did not.  I received a sh**t-load of literature, but I thought it was just another loan scam.

... damn

But somethign doesnt seem right here.  My loans are the deferred type and I thought I agreed to a set interest rate.  How can they magically up the interest rate I agreed to on contract?

Go back and read the contract.  Don't get your information from jfern.

I remember when I was in college, my student loan rate was 7%, and that was considered a GREAT rate at the time.  A year after I started college, the rate went up to 9%, still below market at the time.

I didn't really have a choice about rates at that time.  The program has changed a lot.

[nini2287]

option 3 I guess.  I'll probably need to take one out in a couple years.

[Alcon]

Obviously, option 3, since I don't know what a Stafford loan is.

[○∙◄☻¥tπ[╪AV┼cVê└]

Unfortunatley, I did not.  I received a sh**t-load of literature, but I thought it was just another loan scam.

... damn

But somethign doesnt seem right here.  My loans are the deferred type and I thought I agreed to a set interest rate.  How can they magically up the interest rate I agreed to on contract?

Old Stafford loans have a variable rate. The new ones are fixed at 6.8%.

[KEmperor]

Yes, of course I did.  Back a few years ago when the rates were decently low, and the consolidation put it at a fixed rate.

[Sam Spade]

Option 3 (rich)

Actually, just wait for the next recession (to some people here, we've never been out of a recession) and the Fed will start lowering rates again and then reconsolidate.  Variable rates are for losers (or those with so-so credit history or no cash), unless the term is ultra-short (under 1 year or so, 2 years max)

[dazzleman]

Option 3 (rich)

Actually, just wait for the next recession (to some people here, we've never been out of a recession) and the Fed will start lowering rates again and then reconsolidate.  Variable rates are for losers (or those with so-so credit history or no cash), unless the term is ultra-short (under 1 year or so, 2 years max)

Yes, for some people here, the 'recession' that we've been in for the past 6+ years will end when the next Democratic administration takes office (which hopefully won't be for a long time).  It's an interesting definition of recession that includes a period of 3-4% annual economic growth.  It seems to me that for these people, the definition of 'recession' is purely political, and not based on actual facts of economic performance.  What a shock.

[opebo]

Option 3 (rich)

Actually, just wait for the next recession (to some people here, we've never been out of a recession) and the Fed will start lowering rates again and then reconsolidate.  Variable rates are for losers (or those with so-so credit history or no cash), unless the term is ultra-short (under 1 year or so, 2 years max)

Yes, for some people here, the 'recession' that we've been in for the past 6+ years will end when the next Democratic administration takes office (which hopefully won't be for a long time).  It's an interesting definition of recession that includes a period of 3-4% annual economic growth.  It seems to me that for these people, the definition of 'recession' is purely political, and not based on actual facts of economic performance.  What a shock.

The last six years have been abysmal for working class people, fellows, and for the most part so was the last period of growth (the late 1990's).  Economic growth alone does little or nothing to emeliorate the miseries of the lower working class, as without State redistribution nearly all the increased production goes to those at the top of the social heirarchy.