(Reuters) - Last year at this time, money mavens were exhorting college students and recent graduates to run right out and refinance their loans before the big July 1 rate hike, which took the rates on those loans from the neighborhood of 4.7 percent to 6.54 percent. This year, rates are again going up, but only by a little -- to 6.62 percent.
Other factors about the way college loans are managed have also changed in ways that might make consolidation less attractive for some borrowers. So instead of racing to the bank, new grads should take some time to figure out whether consolidation works for them, and approach it carefully.
Read more at Reuters.com Bonds News
Other factors about the way college loans are managed have also changed in ways that might make consolidation less attractive for some borrowers. So instead of racing to the bank, new grads should take some time to figure out whether consolidation works for them, and approach it carefully.
Read more at Reuters.com Bonds News
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