Are un-subsidized stafford college loan interest rates variable until complete payment or just over
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I just finished college and I have a few loans to pay back, with two of them being variable rate un-subsidized stafford loans. Over the course of the four years that interest rate has gone up substantially. Will they continue to rise (or fall, but probably rise) over the time that I'm paying off the loan or now that I'm out of school they rate will be fixed over the next ten years? I'm just trying to decide of consolidating is worth it when I don't need to spread out my repayment more than 10 years and have no problem paying different bills. Thanks!
Are un-subsidized stafford college loan interest rates variable until complete payment or just over school?The only way to obtain a fixed interest rate on your Federal Unsubsidized Stafford Loans with a Variable interest rate is through the FFELP Consolidation Loan Program.
Your Variable interest rate Federal Student Loans have their interest rate change every July 1st based on what the Federal Government sets the interest rate at. These loans will remain at a Variable interest rate only if you do not consolidate them. For more information on the FFELP Consolidation Loan Program please visit the source below.
Are un-subsidized stafford college loan interest rates variable until complete payment or just over school?If you don't consolidate them...They "float".
Consolidation locks in the rate.
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