Private student loan interest rate

[mpweaver4]

I owe about 65K on my student loans. It's a private loan with a variable rate based on the 3 month LIBOR. So the interest rate is my fixed 2.5% margin + 3 mo. LIBOR.

Does anybody know if these lenders are willing to negotiate on the fixed margin portion of the interest rate? I know credit card companies will negotiate your rate, but not sure if a private student loan lender would.

If it matters, I've always paid higher than the minimum and have never missed a payment.

[Seeker]

Originally Posted by mpweaver4

I owe about 65K on my student loans. It's a private loan with a variable rate based on the 3 month LIBOR. So the interest rate is my fixed 2.5% margin + 3 mo. LIBOR.

Does anybody know if these lenders are willing to negotiate on the fixed margin portion of the interest rate? I know credit card companies will negotiate your rate, but not sure if a private student loan lender would.

If it matters, I've always paid higher than the minimum and have never missed a payment.

There are so many private loan companies out there, it'd probably be best to check with your particular loan provider. They are not required to renegotiate, but they may or may not depending on the situation.