FYI on student loan rates going forward Forum
- Bronck
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Re: FYI on student loan rates going forward
Thanks for the post Prof Campos. Student loans are a mess, and it looks like the gov't wants to make them even worse
- jbagelboy
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Re: FYI on student loan rates going forward
What does this mean for 2014 and 2015 staffords? I thought they were going for ~6.1% this year, but do we think it will spike back over 6.8 within 2 years?
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Re: FYI on student loan rates going forward
as long as the recovery remains slow, students borrowing in the near term may actually see a slight reprieve say like 70-100 basis points, but if interest rates go back to historical averages we're all screwed.
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Re: FYI on student loan rates going forward
drops our rates to 5.41% for unsubsidized and i think plus drops to lik 6.5 this year
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Re: FYI on student loan rates going forward
Good thing law school is a one-year commitment right?dstars823 wrote:drops our rates to 5.41% for unsubsidized and i think plus drops to lik 6.5 this year
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Re: FYI on student loan rates going forward
My guess is that people enrolling this fall will end up with a blended interest rate for their loan school loans similar to, or perhaps slightly lower than, the previous 6.8/7.9 structure. It will be lower in their first year (5.4/6.5) but almost certainly quite a bit higher in their second and third years. People who enroll from 2014 forward are going to end up paying higher rates than 6.8/7.9 and probably much higher.
- francesfarmer
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Re: FYI on student loan rates going forward
Well this makes me pissed that I deferred. Now part of me hopes the economy doesn't get better until I graduate.
- Tiago Splitter
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Re: FYI on student loan rates going forward
Will the rates at least be fixed once the loans are taken out? If so I just need Bernanke to hang in there for another 18 months.
- t-14orbust
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Re: FYI on student loan rates going forward
YesTiago Splitter wrote:Will the rates at least be fixed once the loans are taken out? If so I just need Bernanke to hang in there for another 18 months.
- untar614
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Re: FYI on student loan rates going forward
But a poor economic recovery could have a negative impact on hiring. THERE IS NO WINNING!francesfarmer wrote:Well this makes me pissed that I deferred. Now part of me hopes the economy doesn't get better until I graduate.
- jbagelboy
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Re: FYI on student loan rates going forward
For those of us with savings & scholarships and not taking out the full loan amounts, its probably still best to take the minimum this year though? Or will they rise significantly enough by 2015 to merit taking out additional loans this year and applying savings to future years? I cant see the latter being the case after capitalization but theres a big difference b/t 5.4 and 10.5Paul Campos wrote:My guess is that people enrolling this fall will end up with a blended interest rate for their loan school loans similar to, or perhaps slightly lower than, the previous 6.8/7.9 structure. It will be lower in their first year (5.4/6.5) but almost certainly quite a bit higher in their second and third years. People who enroll from 2014 forward are going to end up paying higher rates than 6.8/7.9 and probably much higher.
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- jbagelboy
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Re: FYI on student loan rates going forward
As a corrolary to TS, will the 5.41 apply to loans taken out for the 2013-2014 (the ones I just requested)?t-14orbust wrote:YesTiago Splitter wrote:Will the rates at least be fixed once the loans are taken out? If so I just need Bernanke to hang in there for another 18 months.
- francesfarmer
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Re: FYI on student loan rates going forward
Ugh, our generation is so fucked, I am MAF about ituntar614 wrote:But a poor economic recovery could have a negative impact on hiring. THERE IS NO WINNING!francesfarmer wrote:Well this makes me pissed that I deferred. Now part of me hopes the economy doesn't get better until I graduate.
- t-14orbust
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Re: FYI on student loan rates going forward
I don't know that, you're going to have to wait and see what your loan agreement states. Hopefully you're lucky and can snag the lower rate this year lol. I'm thinking yes but don't quote me on thatjbagelboy wrote:As a corrolary to TS, will the 5.41 apply to loans taken out for the 2013-2014 (the ones I just requested)?t-14orbust wrote:YesTiago Splitter wrote:Will the rates at least be fixed once the loans are taken out? If so I just need Bernanke to hang in there for another 18 months.
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Re: FYI on student loan rates going forward
I think the rates are supposed to be retroactive so loans that we are going to take out this year should get these discounted rates. I think it would still be best to take out the minimum if possible because the savings of the 100 basis will not be enough to warrant allowing that interest to accrue for 1-2 extra years. Its best to take out more money on the back end.jbagelboy wrote:As a corrolary to TS, will the 5.41 apply to loans taken out for the 2013-2014 (the ones I just requested)?t-14orbust wrote:YesTiago Splitter wrote:Will the rates at least be fixed once the loans are taken out? If so I just need Bernanke to hang in there for another 18 months.
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- AreJay711
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Re: FYI on student loan rates going forward
Maybe. I would keep the liquidity for bar trip. This is a marathon not a sprint, and you might as well have fun as not.dstars823 wrote:I think the rates are supposed to be retroactive so loans that we are going to take out this year should get these discounted rates. I think it would still be best to take out the minimum if possible because the savings of the 100 basis will not be enough to warrant allowing that interest to accrue for 1-2 extra years. Its best to take out more money on the back end.jbagelboy wrote:As a corrolary to TS, will the 5.41 apply to loans taken out for the 2013-2014 (the ones I just requested)?t-14orbust wrote:YesTiago Splitter wrote:Will the rates at least be fixed once the loans are taken out? If so I just need Bernanke to hang in there for another 18 months.
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Re: FYI on student loan rates going forward
francesfarmer wrote:Ugh, our generation is so fucked, I am MAF about ituntar614 wrote:But a poor economic recovery could have a negative impact on hiring. THERE IS NO WINNING!francesfarmer wrote:Well this makes me pissed that I deferred. Now part of me hopes the economy doesn't get better until I graduate.
this might help: http://www.top-law-schools.com/forums/v ... 0&t=188008
- francesfarmer
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Re: FYI on student loan rates going forward
Only makes me M-erAF!dkb17xzx wrote:francesfarmer wrote:Ugh, our generation is so fucked, I am MAF about ituntar614 wrote:But a poor economic recovery could have a negative impact on hiring. THERE IS NO WINNING!francesfarmer wrote:Well this makes me pissed that I deferred. Now part of me hopes the economy doesn't get better until I graduate.
this might help: http://www.top-law-schools.com/forums/v ... 0&t=188008
- Hufflepuffer
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Re: FYI on student loan rates going forward
Ah, so they solved the student loan crisis by... popping the bubble faster?Paul Campos wrote:My guess is that people enrolling this fall will end up with a blended interest rate for their loan school loans similar to, or perhaps slightly lower than, the previous 6.8/7.9 structure. It will be lower in their first year (5.4/6.5) but almost certainly quite a bit higher in their second and third years. People who enroll from 2014 forward are going to end up paying higher rates than 6.8/7.9 and probably much higher.
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Re: FYI on student loan rates going forward
just hope for a super slow recovery so that bernanke has to keep the rates low and the money cheap
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Re: FYI on student loan rates going forward
the economy will NOT recover as long as money is cheap and rates are low. The reason tuition is espensive is because lending to students is risk free because goverment is federaly insuring the loans.dstars823 wrote:just hope for a super slow recovery so that bernanke has to keep the rates low and the money cheap
- Louis1127
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Re: FYI on student loan rates going forward
Unfortunately interest rates will be going up right when I need student loans for LS. Errrrrggghhh.
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Re: FYI on student loan rates going forward
it's not the interest rate that is the problem. It's the expensive tuition.Louis1127 wrote:Unfortunately interest rates will be going up right when I need student loans for LS. Errrrrggghhh.
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