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Cookedstock writes:

<<When I checked the balance info etc on the EFS site, they had lowered her rate to 6.79% from 8.25%. I found it weird because 2 weeks ago, it was 8.25%. Plus, I thought that these loans were a fixed rate and it dropped?>>

They probably adjusted it to reflect the lower T-bill rate. It wasn't a fixed rate, obviously.

So it sounds like, when all is said and done, you get 6.075% less the .25% direct debit haircut (so 5.825%.) Way to go!

Are you the one who asked if there was a catch? I don't think there is, but I am afraid of whatever it is that Congressman Jim Nussle of Iowa is up to, asking if the Direct Loan program pays for itself. He comes from a massively-subsidized state, and I wonder why he is concerned that Direct borrowers are being offered these low rates, when farmers in his state get these kind of deals all the time . . .
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