Almost done w/ college

waijai · #1 (**permalink**) 10-14-2009, 07:19 AM

I have about $30k in accumulated student loan debt with interest rates around 6.8%. Is there a way to refinance these to get a lower rate?

arthurb999 · #2 (**permalink**) 10-14-2009, 09:28 AM

what type of loans are they? Federal, private, etc.

waijai · #3 (**permalink**) 10-16-2009, 12:12 PM

Stafford loans at around 6.8%.

arthurb999 · #4 (**permalink**) 10-16-2009, 01:59 PM

I think you can only consolidate them at a blend of their current rates... but you can get quarter points knocked off for direct withdrawl, on time payment for a year, etc.

Look around... you might be able to find a dea.

lovcom · #5 (**permalink**) 10-16-2009, 10:16 PM

WaiJai, just curious what you studied in school and what type of job you hope to get or have gotten with your education?

LuxLiving · #6 (**permalink**) 10-18-2009, 08:20 PM

Congratulations on finishing up your college education.

buildmybudget · #7 (**permalink**) 10-18-2009, 08:37 PM

Do you happen to own a house or any other assets?

waijai · #8 (**permalink**) 11-02-2009, 10:25 AM

I'm currently in the corporate world working as a senior analyst in the mortgage industry. I will be getting a BS in Finance. I currently do not own a home, but assets I have are personal assets such as two paid for cars. I have about $25k in 401k.

buildmybudget · #9 (**permalink**) 11-02-2009, 11:01 AM

What are the cars worth? Could you sell them and purchase something small to drive around for a while? Your cars could very well be the key to getting out from under this debt...otherwise they are costing you 6.8% to own.