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How to reduce Interest Rate on Parent Plus Loan

Posted 21 March 2015 07:44 PM

mrskromedome42303 Newbie

Total Posts: 1

Joined 2015-03-21

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Our Parent Plus loans are in repayment status.  The interest rate is somewhere between 7.5% and 8.0%.  We are able to make the payments and have a good payment record.  But the interest is killing us.

Is there any way to get a lower interest rate?  I can’t find any info anywhere on this.

Posted 01 May 2015 09:48 PM #1

Manuel Stevens Newbie

Total Posts: 1

Joined 2015-04-30

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You can go with refinancing to lower the interest rate. There is a trade-off to private loan refinancing. but refinancing leaves you without the protection of federal government programs.

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The best way to be sure when starting a mortgage process is beginning to use a mortgage calculator. You can find a good and free one here.

     

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