The floating rate on federal student loans went up today. When I started law school federal loan rates were 3-something percent. They have doubled in two years. By consolidating my loans, I fixed the interest rate below 5%. Even if it takes 20 years to pay off, I'm doubting student loan rates will be lower very often in the future.
Graduate Leverage saved me a tidy sum. You might want to check them out.
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I used Graduate Leverage to consolidate my federal loans. I was sold on the cost savings I would receive using their "true rate payments" and being able to keep my 6 month subsidized grace period, neither of which came to fruition.
The staff was friendly, but they did not uphold their promises. Now I have a consolidation that is no more valuable than if I had gone with the government.
If you are looking to consolidate or are still in school and need a Stafford or Grad Plus loan, I warn you against using Graduate Leverage and would suggest using an established lender with a true track record (really anyone other than them).
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