samiam1115 Posted November 9, 2006 Report Share Posted November 9, 2006 Ok…I just found this out…Apparently when the Higher Education Act was reauthorized earlier this year the government screwed up and set the interest rate on Federal PLUS loans at 8.5%The government has also set the maximum interest rate for a federal consolidation loan at 8.25% This means if you already have a PLUS loan or will be borrowing a PLUS loan you can consolidate it (consolidation is free) and – because the maximum rate on a consolidation loan is 8.25% you will automatically reduce you interest rate by 0.25%!!!!!!!!!I LOVE IT WHEN THE GOV’T SCREWS UP!!!!!!!Here’s a good place to go for plus loan consolidation.More Info:http://www.finaid.org/loans/plusloanrateloophole.phtmlhttp://forums.kiplinger.com/showthread.php?t=6050 Link to comment Share on other sites More sharing options...
cavazos007 Posted November 9, 2006 Report Share Posted November 9, 2006 More SPAM... Link to comment Share on other sites More sharing options...
PolarBearnCO Posted November 10, 2006 Report Share Posted November 10, 2006 I only pay 7%. Why would I get excited about 8? Link to comment Share on other sites More sharing options...
suki Posted November 10, 2006 Report Share Posted November 10, 2006 yeah, and in addition if you do a direct automatic payment online you save another 25 % on your student loan on top of 7%...definitely a spam! Link to comment Share on other sites More sharing options...
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