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I have a question. My husband and I each have student loans. Several years ago we consolidated our loans through Sallie Mae. His payment is $407 and mine is $129. OUCH. I understand that the government lowered interest rates. What I don't know if this applies to us. If our loans have already been consolidated, can we still get a lower interest rate? If so, how do we go about doing that?? I'd appreciate any information that anyone can share. Thanks!
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Hello,

It depends on your consolidation loan. Certain types are indexed to the 90 day T-bill, but they were rare. Most are fixed, and the only possibility that you may have is further consolidation of your separate loans into a single loan with a lender who will give you a better rate, such as Direct Consolidation loans (links from www.ed.gov).

Luck,

mjk
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Yeah, you can always do better at Direct by .8% than whatever you currently have (have after the July 1 rate adjustment). Find out what your consolidation lender is charging, and then reconsolidate over at t Direct.
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