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Posts: 51
Registered: ‎08-25-2011
My citibank loans were purchased by Discover

I received a letter in the mail yesterday saying that my student loans with Citibank have been sold to Discover. It specifically states in that letter that my minimum monthly payment may change. Does anyone know if Discover is going to alter interest rates on these loans or if the repayment terms will change? I'm just hoping that I don't have a huge surprise in the near future. I have private loans through Citibank at ~3.5% and owe a total amount of about $60,000. My monthly payment right now is around $500/mo. I mean, there's no way my minimum payment could double or anything, right?