How should I structure my student loan payments?
I have a LARGE amount of student loans, both federal (consolidated) and private. My private loans are on a variable interest rate. I feel like I am spinning my wheels paying each month to a balance that doesn't seem to move.
What can I do? Should I put the fixed rate loans in deferrment and pay double on the variable rate loan?
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Answer by Svetik
You gotta give some more info on your interest rates. You always want fixed rates unless its a car loan, or another rate that doesn't move very much when it is variable. My best bet for you would be get a fixed interest rate at a local financial institution. Usually credit unions are pretty good with rates. If you have a car that you own free and clear you can do what is called a refinance and get that at a low interest rate. This might help but I need to know more....... percent that you are paying, amount of loans.......
good luck
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