Help on my student loans..I think this will work?
08-27-2012 02:15 PM
I was looking at my student loans and 2 are at 6.5% ($3,539 and $4,194 balances) YIKES. The other two are 1.51 and 3.4.
Here is the info on them:
|05/04/2012||Dl Special Consol Stafford||Deferment||$4,194.26|
|05/04/2012||Dl Special Consol Stafford||Deferment||$1,658.14|
|05/04/2012||Dl Special Consol Unsub Loan||Deferment||$3,539.42|
|09/26/2011||Direct Sub Stafford Loan||In School||$4,500.00|
Not sure what my college is going to offer me yet this year, but if it’s between 1-3.5% I’m contemplating taking out extra $$ in the loan above tuition/books to pay off one of the 6.5% loans with. My debt amount will still be the same…but the interest rate will be lower... and since the 2 in question were consolidated in May this year, I would think paying it off then having new acct added just 4mos later won't make a big difference in FICO??
Any flaws in my “logic” that you can see?
Discover IT $4,000 / CU Visa $500 / JC Penny$500