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Student Loan Interest Rates

I have a student loan that started out at less than $13,000, and it is over $25,000 at this point (and I have already been paying on it for over a year). I feel as though I am going nowhere, and I wonder why the interest rate cannot go down from 8% since the Fed's interest rate is at an all-time low right now. Can debt negotiation be used in this situation, or do I just have to live with this and keep paying on it forever??

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pon20105
pon20105 Answered:

I think it's depend on your first deal. i suggest you to read the rule again. Also if needed, you can get a favor from a debt / loans consultant to solve this.

Hope this can help a little bit ;)

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george2harris
george2harris Answered:


You can contact your bank to revise the rate of interest. Also, ask for some relief towards the repayment. Why don't you try private student loans help you supplement through banks or credit unions.
The entire or a part of the loan amount is borrowed from private lenders. You don't have to follow a strict repayment schedule like what you do when you've a student loan from a bank.

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John Smith
John Smith Answered:

You need to pay student loan along with the interest rate as interest rate would not ggo down in near future so you have to .

 

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Jenny
Jenny Answered:


No not sure, that debt negotiation can be used in this situation. I think it is better to contact your bank and ask for some relief of repayment. 

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kimberly
kimberly Answered:

It's depend on your negotiation with your lender. You can have also an options like Consolidation – reducing the amount of your monthly payment, Postponing payments through deferment or forbearance, Deferment, Forbearance, Loan forgiveness, or Be proactive when it comes to repayment

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sarah
sarah Answered:

How you can find and compare the best student loan refinance rates. Save thousands of dollars with private or federal student loan consolidation. www.Studentloanrefinancerate.com provides actionable information to help students determine how best to refinance or consolidate their loan

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