Student Loan Rate Reduction

[Goldy]

We recently got a note from our SL holder that because we have paid on time every month they are reducing our interest by 2% for the life of the loan. Funny thing is that our interest prior to this letter was 2.14% so now its down to a whopping 0.14%. It made me wonder how many people miss payments.

[BMEPhDinCO]

That's amazing! After 36 on time payments, my rate will be reduced 0.25% - blah compared to yours! Don't pay that one off early though for sure.

[breathemusic]

Mind if I ask what companies your loans are with? I get a 0.25% reduction because I have my payments auto-debited from my account, but a 2% reduction is huge!

[Goldy]

We got the 0.25% reduction too a year or two ago. The loans are with ACS but there is some link to Wells Fargo so I'm not too sure how that all works out.