309020 wrote:ph5354a wrote:My interest rate is 6.79% for my private loan.
This is interesting to me. What bank/institution are you using? I looked into a couple of providers (without ever actually talking to anyone or using my information) but it looked like the rates were either fixed and higher than federal loans or variable with really high limits that I wouldn't risk. It's a done deal for this year, I suppose, but I'd be interested in it next year, perhaps. I'm not likely to go for a LRAP qualifying job, so I'm not stuck with the feds. Although my mother was worried about cosigning any private loans with me because if I then died, my parents would still be liable for all the money. At least the feds forgive the loans if you die.
Mine is through Discover Student Loans. I have about 5 years of decent credit history so that's probably a factor. I didn't do a consigner but you could always look into getting a life insurance policy.