# Student loan, interest sound high? **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [June 21, 2007, 3:28pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287 "2007-06-21T15:28:35Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [June 21, 2007, 3:28pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/1 "2007-06-21T15:28:35Z")
I took out a student loan through citibank and my interest rate is 9.250. From people I have talked to, this number sounds high. Am I wrong? I don’t really know anything about loans and could use some help and maybe where a better place to get a loan from for next year would be? Thanks Penfold ---
**Author:** ![Viper966](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/viper966/32/7268_2.png) [@Viper966](https://forums.speedlife.net/u/Viper966)\ **Post date:** [June 21, 2007, 3:38pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/2 "2007-06-21T15:38:49Z")
private student loans are always going to be high ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [June 21, 2007, 3:39pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/3 "2007-06-21T15:39:50Z")
ok, thanks, I was just unsure. ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [June 21, 2007, 3:42pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/4 "2007-06-21T15:42:40Z")
private loan FTL ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [June 21, 2007, 3:43pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/5 "2007-06-21T15:43:07Z")
[http://www.nelnet.com/financial\_aid\_advice.aspx?id=868&path=bsp.fye.ufa.fnop](http://www.nelnet.com/financial_aid_advice.aspx?id=868&path=bsp.fye.ufa.fnop) ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [June 21, 2007, 3:44pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/6 "2007-06-21T15:44:38Z")
[quote=“Nikuk,post:5,topic:31287"”] [http://www.nelnet.com/financial\_aid\_advice.aspx?id=868&path=bsp.fye.ufa.fnop](http://www.nelnet.com/financial_aid_advice.aspx?id=868&path=bsp.fye.ufa.fnop) [/quote] wow, thanks, that will help. Much appreciated. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [June 22, 2007, 10:19am UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/7 "2007-06-22T10:19:41Z")
incorrect order: 1. get loan 2. ask for help correct order: 1. ask for help 2. get loan ---
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [June 22, 2007, 10:38am UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/8 "2007-06-22T10:38:54Z")
thats extremely high for a private loan even, mine is just slightly less than half of that, refinance like woah ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [June 22, 2007, 10:40am UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/9 "2007-06-22T10:40:01Z")
[quote=“Penfold,post:6,topic:31287"”] wow, thanks, that will help. Much appreciated. [/quote] :tup: Nelnet services 'em all anyhow. ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [June 22, 2007, 11:14am UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/10 "2007-06-22T11:14:53Z")
[quote=“66impalass,post:8,topic:31287"”] thats extremely high for a private loan even, mine is just slightly less than half of that, refinance like woah [/quote] where is yours through? ---
**Author:** ![ly555is](https://avatars.discourse-cdn.com/v4/letter/l/3bc359/32.png) [@ly555is](https://forums.speedlife.net/u/ly555is)\ **Post date:** [June 22, 2007, 11:17am UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/11 "2007-06-22T11:17:52Z")
[quote=“theblue,post:7,topic:31287"”] incorrect order: 1. get loan 2. ask for help correct order: 1. ask for help 2. get loan [/quote] LOLLLLLLLL so true ---
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [June 22, 2007, 11:34am UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/12 "2007-06-22T11:34:06Z")
[quote=“Penfold,post:10,topic:31287"”] where is yours through? [/quote] chase ---
**Author:** ![97FormulaWS-6](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/97formulaws-6/32/7384_2.png) [@97FormulaWS-6](https://forums.speedlife.net/u/97FormulaWS-6)\ **Post date:** [June 22, 2007, 12:30pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/13 "2007-06-22T12:30:42Z")
Ouch; is that what school loans are up to now??? Mine’s locked at 3.15%!! But mine’s a government loan ---
**Author:** ![jay\_g](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jay_g/32/111288_2.png) [@jay\_g](https://forums.speedlife.net/u/jay_g)\ **Post date:** [June 22, 2007, 12:48pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/14 "2007-06-22T12:48:20Z")
4.25% locked in over here, citibank ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [June 22, 2007, 1:09pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/15 "2007-06-22T13:09:00Z")
Consolidated back at 2% FTW…I have $18,000 in extra loans sitting in a money market at 5% while i make the minimum payments and write off the interest :tup: ---
**Author:** ![jrod0187](https://avatars.discourse-cdn.com/v4/letter/j/ac91a4/32.png) [@jrod0187](https://forums.speedlife.net/u/jrod0187)\ **Post date:** [June 22, 2007, 2:23pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/16 "2007-06-22T14:23:26Z")
Thats high, refinance like i plan on doing ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [June 22, 2007, 6:32pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/17 "2007-06-22T18:32:07Z")
ok, so. I did some looking around and found out that federal Stafford loans are locked in at 6.8%. the federal Stafford loan is what i applied for and thought I got through citibank, but they are telling me I have 9.25% interest. I feel like an idiot that i just realized this now. ---
**Author:** ![BrockwayMT](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/brockwaymt/32/5060_2.png) [@BrockwayMT](https://forums.speedlife.net/u/BrockwayMT)\ **Post date:** [June 22, 2007, 6:35pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/18 "2007-06-22T18:35:32Z")
[quote=“Joe,post:15,topic:31287"”] Consolidated back at 2% FTW…I have $18,000 in extra loans sitting in a money market at 5% while i make the minimum payments and write off the interest :tup: [/quote] :tup: I have two loans. A small one at 7.14% that I pay extra on. The larger one is locked at 2.5% and I’m in no hurry to pay it off. ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [June 22, 2007, 6:38pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/19 "2007-06-22T18:38:20Z")
apparently I applied for the citiassist loan and that is why I have the high interest rate. This is what happens when a 18 year old high school senior is left to figure out everything about paying for college on his own… Anyway, my question is, should I take out a federal stafford loan this year and use it to pay off the high interest loan I have? ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [June 22, 2007, 7:04pm UTC](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287/20 "2007-06-22T19:04:31Z")
shit, i think i just figured all of this out, nevermind. [Next page](https://forums.speedlife.net/t/student-loan-interest-sound-high/31287.md?page=2)