Chris I asked:
http://www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/private/private.htm
http://www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/private/private.htm
Their website says the following:
Interest rate: Interest rates are variable and reset monthly.
Private student loans, not federal loans. I found the answer on their site. It’s Prime (8.26% today) plus 0-6% depending on credit worthiness, changing monthly.
If you consolidate, it’s stays at what the rate is for what it is at the moment of your consolidation. I just did mine and it is about 6.25%, and by consolidating, you lock in your rate.
Hope it helps!
Left by Nena on September 23rd, 2009
go for a private sallie mae loan. it is easier. the money is sent directly to you rather than the school.
Left by queen of black ppl on September 26th, 2009