Find solution
Private student loan interest rate?

Private Student Loan(full deferall)..Good interest rate?

  • What is a good yet reasonable interest rate for a private student loan for 30k? I intend to start paying it off after I graduate. Everytime I apply for a loan I'm getting ridiculously high rates..one was charging me 9% monthly!....best so far was %8.85 every quarter..which totals about %27 yearly. Is this a fair price or can I do better? Thanks

  • Answer:

    that is a HORRIBLE, THIEVING interest rate, you will be absolutely buried by that if you do not come out of school with a very high paying job and pay it off very very quickly. just wait and see how the interest builds and compounds on that. 27% a year on 30,000; OMG I hope you dont put yours or yours parents house on the line as collaterol. I would never in my greatest desperation sign that promissory note.

mohit062... at Yahoo! Answers Visit the source

Was this solution helpful to you?

Other answers

Private student loans are not guaranteed by the government and have a much higher risk to the lender, so they are typically credit-based, meaning your interest rate will depend on your credit history. Trying to get your credit in good shape before applying and/or finding a co-signer with good credit can help. Make sure you know what you're getting into - $30k is a lot to borrow in student loans - make sure you are working towards a degree that will allow you to get a well-paying job to pay that back.

Sallie Mae

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.