anyone aware of the interest rate raising and locking at 6.8%? if you are currently in school/grace/deferment right now are at a 4.7%. after july 1st they will raise to 6.8 and lock there.

reason i bring this up is because i am in the student loan dept of nelnet and consolidate them (as long as they are 7500 or more, and can be only one loan) i get no commission for this, just a free service we offer to consolidate them. my number is 866-426-6765 ext 25784 stafford loans, private loans (require credit check, co-borrower can be used) and PLUS loans can be consolidated. bye bye

I thought the rate was locked at whatever you took the loan out at... or at least I think mine were.

Exile Racing Technologies
http://www.exileracing.com
Go that way, really fast, if something gets in your way... turn.

mines like 2.9%

yup, locked at 3.11% here.

Dood I'm going to call you man. All my loans are with nelnet, and I tried to lock it in at 2.7%, and they only locked half of them at that b/c they said they were still "open" or something like that. Pissed me off!!!! I definately have to consolidate the rest.

Originally posted by Michael_97RS
I thought the rate was locked at whatever you took the loan out at... or at least I think mine were. Exile Racing Technologies http://www.exileracing.com Go that way, really fast, if something gets in your way... turn.

they could of been PERKINS loans, which are locked at a 5% interest rate. those will not change unless you are in school, then interest will accrue so that would not be beneficial to you.

ez-open you probly mean not fully disbursed, which basically means the schools had not recieved all there money yet. what you can do is reconsolidate your new loans, with the consolidation you have, so you will end up getting lower then 3.5%

also everyone else

if you have already consolidated, and have taken out more loans that are not consolidated, or you are through the DOE-department of education, you CAN reconsolidate.