Friday, September 14, 2012

Student Loan Interest

In talking with some of the older associates at my firm, I've been surprised by how much student loan interest rates have crept up in such a short period of time. The highest interest rate among my student loans is 8.5%. What about you guys?


Elizabeth said...

I graduated law school in 2007 and my highest interest loan was 8.5% (thanks Bush!). I paid that one off first, then the 6.8% loans, then the private loans and now I'm set to pay back the remaining loans at 3-4% for the next 25 years.

E. McPan said...

I graduated in 2005 and my interest rate was much, much lower. I was able to consolidate all my loans (including some undergrad I hadn't finished paying on), and I think that consolidation was one thing that lowered the rate. If I remember right, if I paid it on time for a certain amount of time, it also took off a quarter of a percent. I'm just very grateful that my loans are so low interest because I've been out of work a few times since graduating and I would be an absolute mess if the payments were higher.

Unknown said...

I was lucky enough to not get any 8.5% loans, but mine range from 6.5-7.8. When I consolidated they all merged into 7.2ish. My bar exam loan is lower than my federal loans. It's ridiculous.