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I put this on the "Paying for College" board, but because I spend more time here than there, I thought I might get a better response if I posted it twice. Thus:


Fellow Fools:

Advice is requested for my situation!

After reading "Hot Deals on Student Loans!" by TMF AnnC (http://www.fool.com/Specials/2001/Sp010613z.htm?ref=prmppf), I'm really intrigued! The problem is, I've already consolidated my loans, and I'm having a little difficulty trying to sift through what I'm entitled to.

Here are some facts in my case:
1. I currently have three student loans. All are with the SLMA ("Sallie Mae").
2. Loan #1 is a variable rate loan (currently at 8.25%). It has an outstanding balance (as of May 31) of just under $6,000. Interest on the loan is NOT subsidized. It is a 15-year note expiring in 2014.
3. Loan #2 is a fixed-rate "SMART" loan at 8.125%. It has an outstanding balance of just over $38,000. Interest on the loan IS subsidized. It is a 30-year note expiring in 2029.
4. Loan #3 is a fixed-rate "SMART" loan at 8.125%. It has an oustanding balance of just over $12,000. Interest on the loans is NOT subsidized. It is a 30-year note expiring in 2029.
5. Minimum payments on the collective loans is a little more than $450. I routinely pay between $550 - 750 per month in an effort to reduce the duration of the loans.

So, the question is -- how do I reduce the interest rates on these loans?

ANY ADVICE WELCOME!

CPAScott
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