Need to eliminate High Interest rate private student loan
Date: Tue, 06/12/2007 - 08:29
Need to eliminate High Interest rate private student loan
My son received bad advice from my ex-wife re a private school loan and is currently stuck with a $54,000 private school loan at approx. 15%. He would like to refinance it at a better interest rate. What's the best way of going about this?
Private loans are expensive and it is almost next to impossible
Private loans are expensive and it is almost next to impossible to refi them at a lower rate. You may find a slightly lower rate but origination fees will eat up that difference. Often parents have to assist by doing a HELOC loan.
