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Help on my student loans..I think this will work?

Established Contributor

Help on my student loans..I think this will work?

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:

Date Opened Loan Type Status Balance Total Loan Balance:
05/04/2012Dl Special Consol StaffordDeferment$4,194.26
05/04/2012Dl Special Consol StaffordDeferment$1,658.14
05/04/2012Dl Special Consol Unsub LoanDeferment$3,539.42
09/26/2011Direct Sub Stafford LoanIn 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?

Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
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