Private College Student Loan

Is 4% a good rate for a student loan?

Is 4% a good rate for a student loan / student consolidation loan? Tell me what your interest rate is if you have one 4% is what I have after I consolidated all my student loans last year :-x

Public Comments

1. Yes, I never had a student loan but my home loan is around 7.
2. 4% is about average, although I would think with today's market you may be able to get a lower rate (depending upon your credit). A government loan would likely be lower, but a private loan may be even higher. I've borrowed school loans ranging from 2.5% (government) to 10% (private emergency loans).
3. 4% is not so bad but it also takes a consideration of the period in which u are paying back and the method they will use to calculate your laon repayment, is it on a reducing balance method or fixed. Wish you well, Racheal
4. There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In most<!--instances the FAFSA is required for all federal financial aid including federal student loans. Deferment options are available while you are still attending school at least half-time. There are four main federal loan programs. http://best-loans.awardspace.com/student-loans.htm Federal loan consolidation is for students who are in repayment status or parents who wish to extend the repayment period on their current PLUS and obtain a fixed interest rate for the life of the loan-->you can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.