Array

Student Loan Consolidation Rates Fixed Versus Variable

Must Read

Debt Consolidation Services for Loan Reduction

There are many debt consolidation services that help their client towards loan reduction and financial freedom. Debt consolidation can...

Debt Relief With Debt Consolidation

Has your frivolous spending landed you in a vicious circle of debt? Have your debts become unmanageable that you...

How the Bail Bond System Benefits Society

There are many advantages to having a bail bond system, and one of the most important is... it is...
Admin
test

So you’ve finished college and decided to consolidate your loans into one monthly payment. Great! Consolidation will help you pay off your student loans while maintaining manageable monthly payments. Next it’s time to make a decision about student loan consolidation rates.When it comes to student loan consolidation rates, there are two types you can choose from which both have pros and cons. You can either choose a fixed interest rate or a variable or adjustable rate. Fixed rates are great because they are pretty much set in stone. This takes the guess work out of what your loan payment will be each month.It will always be the same so you don’t have to worry about any bad surprises. That’s the upside when it comes to fixed interest rates. However, this same thing can be a downside. Let’s say interest rates are cut significantly. If you choose a fixed rate you won’t be able to benefit from the rate cut.Additionally, you can also choose a variable or adjustable student loan consolidation rate. This type interest rate will fluctuate as the federal rate changes. In some cases this can be great for you because your payment could drop significantly. However, by the same turn, it’s also possible that your payment could also be increased significantly if the federal rates go up.Basically, it’s really a gamble when you chose a variable interest rate. It could work out great for you however on the same token it could turn out to be a bad decision.Ultimately, when deciding on student loan consolidation rates, it comes down what’s most important to you. If you’re willing to gamble a little in order to get a great rate why not try a variable interest rate. However, if you need a consistent interest rate with no surprises, it’s best to go with a fixed rate.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Underlight As Accent, For Power and The Main Light for Photography

Underlighting, in which fill or accent light comes from under the topic, is not widely used technique in the traditional Portraits,...

How To Fix Overexposure As A Creative Tool, The Complete Guide

As an creative tool, overexposure is sort of underrated. What I’m close to propose could be a deliberate and well thought out technique for...

7D Mark II is Canon’s best DSLR cameras without full-frame sensor.

The expected long-awaited Canon EOS 7D Mark II are shipping in November for $ 1,799 without a lens. With a higher price tag, you...

Low key photography and How to isolate your subject.

Low key photography doesn’t depend on underexposure to make its point; the key to low key is that the majority of tones, even correctly...

High Key Lighting Techniques for Professional Photographers

I’ve written many times about high key lighting techniques and how to achieve them. The term “high key” is a bit misleading. As I’ve...

More Articles Like This