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Aug
17

Terrible Student Loan Consolidation Rates?

Personal Finance

  
student loan consolidation
tc asked:

Calling All Finance Majors…….

I have 6 (federal) for about $60K total balance. One of my loans has an of 2.8% FIXED. Everything else is a variable rate, presently at ~6.8%. If I consolidate all loans, I’ll end up with about a 5.875% fixed rate. If I don’t include the 2.8% loan in the consolidation, I’ll end up with two loans, the one at 2.8% and the which will become a at ~6.8%.

The question - I want to preserve the 2.8% part of my student loan with a separate payment BUT I don’t like the 6.8% consolidated fixed loan rate. Are there other alternatives to the rates offered by loan that offer less than a 6.8% rate?

What have you smart gals/guys done to beat these over inflated rates???
Thanks for all advice.

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