Interest rates dropping

[niecey89]

Good Morning Forum,

Has anyone notice Salliemae career training loan interest rate dropped?

I was checking my balance online and I notice that my interest rate dropped to 3.25% from 11.5% since last month. When I originally received the loan back in 2002 it was at 5 or 6%. 

[Anonymous]

I have a different loan with them, but yes, the interest rates have dropped twice in the past year, because the Federal interest rate has dropped and my loan has a variable interest rate. Take advantage if you can and pay more now before the rates increase again.

[niecey89]

oh i have been overpaying. it is just that this is drastic drop and the first in about 2 years.