To Consolidate student loans or not - Interactive Decisions!

IdealFugacity · #1 05-09-2007, 08:50 PM

I present the following screenshots:

I also have a perkins loan at a rate of 5.00%, which is lower than my E*Trade account earning 5.05%, so I will be making the minimum quarterly payment on that required to amortize it over the 10 year payment period. (eg, what they calculated and presented, not any extra on top)

Basically, I guess my question is, how do I predict if interest rates on these loans will go up or down? I don't want to lock in a bad rate.

Thanks if you have ANY comments.

IdealFugacity · #2 05-09-2007, 08:50 PM

Sorry that the imageshack screenshots need to be clicked to enlarge : /

IdealFugacity · #3 05-10-2007, 02:27 AM

This thread is way more important than mine credit card limit one!

IdealFugacity · #4 05-10-2007, 02:15 PM

I was just told that my current payment for a 10 year period is $278.55 without consolidation, but if I consolidate just the loans above (not including my Perkins loan!), it will still be 10 years but be a $198.80 payment, at a rate of 6.625%.

...Does something seem fishy here?

IdealFugacity · #5 05-10-2007, 02:22 PM

It might be because I get rid of the 6 month grace period, during which interest would normally be accruing?