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I had a similar problem - I was around 7.8%. I refinanced (with Earnest, though SoFi and others provide similar service) and got it down to 4.71. Increased my p

I had a similar problem - I was around 7.8%. I refinanced (with Earnest, though SoFi and others provide similar service) and got it down to 4.71. Increased my payment a bit, and cut my term down by more than a decade. Now, just 117 more payments to go.

Symbiote 11y ago
These figures shocked me. I'd assumed when Americans said "federal" loans they had a low interest rate. My British student loan, from the government, is currently at 0.9%. It's never been more than 5%. I have cash I could use to pay it off, but it earns more interest in a savings account. (And may be useful if I want an extra £12000 towards a house at some point.) http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678642&_dad=portal&_schema=PORTAL http://www.studentloanrepayment.co.uk/portal/page?_pageid=93...
- cylinder 11y ago
  6.8% and 8.4% on my grad loans. I believe they eliminated the 8.4% loans after I graduated. There's even a 4.5% "loan origination fee." My loan balance was $96k when I graduated 4 years ago. I have not made any real payments on it and the balance is now $125k from interest capitalization. Note, I went to one of the lowest tuition schools in the nation for my grad program and lived at home with my parents the whole time.