(Closed) sallie mae

posted 6 years ago in College
Post # 3
Member
354 posts
Helper bee
  • Wedding: November 2012

My adjustable rate loans (not through sally mae) have all been super cheap since the economy crashed – 2.25%! It’s the damn fixed-rate federal loans that were killing me with 6.8%. It all depends on the economy since these rates tend to be tied to some index (like LIBOR – if you’re following the news).  Simplistically, in good times interest rates are high and in bad times they’re low.  So I wouldn’t expect any dramatic increase any time soon…

Post # 4
Member
1570 posts
Bumble bee
  • Wedding: September 2012

@MyFavouriteChords:  Well don’t ever pay late, I know someone who did and their interest rate shot right up to almost 16%.

Post # 5
Member
5479 posts
Bee Keeper
  • Wedding: August 2012

I have Sallie Mae as well, but I have a fixed rate.  It’s super low 🙂

Post # 7
Member
231 posts
Helper bee
  • Wedding: August 2013

What the heck! My Sallie Mae private loan is 12%! Always has been and they told me there was nothing I could do to lower the interest rate.

Currently I’m in graduate school and taking out grad loans to “pay off” that sucker. Much happier with the 6.8%.

Post # 9
Member
1544 posts
Bumble bee
  • Wedding: June 2013

I WISH i had an adjustable rate! Instead i got locked in at like 6.8% when the interest rates were higher! It SUCKS! And i can’t get out of it. Consider yourself lucky.

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