No. of Recommendations: 2
That seems high to me, and I would be concerned that they don't give a fixed rate too.

It sounds like a private educational loan. The only way to get a fixed rate on those is to have enough credit to pay it off and get a fixed rate through a separate loan.

My advice would be to shop around and see if you can't do better than 9%.

The 9% is probably the best they can get with the students crdit history, or lack thereof if just starting out. Personally, I wouldn't cosign if I wasn't in a position to just pay off the loan and let my kid make the payments directly to me.

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