Consolidating student loans chase bank
For the 2015 – 2016 school year, rates are set at 4.29% for undergraduate students with subsidized or unsubsidized Direct Loans.Just like when you’re shopping for most things, it’s a good idea to compare options when it comes to refinancing your student loan.That means that the interest rate you had when you first began borrowing will be the same rate you’ll have years later.
With the help of our comparison tool, you’ll be able to compare student loan refinance interest rates and find the loan that’s best for you.Usually, the point of refinancing is to lower your interest rates so that monthly payments are more affordable.In order to do that, you might have to extend your loan term from 10 years to 15 or 20.Depending on your credit score, the amount of debt you carry and how much money you earn, you might be eligible for some of the best student loan refinance rates. The lowest federal and private student loan refinance rates are around 1.9% in terms of variable rates and 3.5% for loans with fixed rates. Setting up automatic bill pay might lower your rates by a percentage.You’ll have to think carefully about whether you’d prefer a variable or fixed interest rate.