Private College Student Loan

Can you add to an existing education loan?

I am looking to go back to school for an advanced degree. I have an existing education loan that I have been paying off. I opened the loan about 6 years ago at a really low interest rate. I probably have about $2500 left to pay. Is it possible to add funds to the existing loan at the same interest rate, or would I have to get a new loan?

Public Comments

1. That's up to the lender but you'll probably need a new loan.
2. Nope, you will be taking out NEW funds which equates to a NEW loan.
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