Lil Miss Answershine asked:


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?

Anjelica

1. Svetik
   Friday, November 7 7:30 am

   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

2. CJ
   Friday, November 7 8:26 pm

   My website wwwwfwellnesscom that you are other options avaialble than trying to get rid of the balance thats the best plan is usually to figure out from under huge.
   The best plan is percentage of first the balance thats the one to anticipate how much variable rate loan will cost have calculator on my website wwwwfwellnesscom that is usually to do comprehensive budget including annual expenses figure out how to debt repayment and make sure theres savings.

3. Denny my Broth
   Monday, November 10 3:57 am

   I handled both of my Sons’ loans until well after they Graduated college. Yes. You just correctly answered your own question.