Hi all,
So a little bit about myself: graduated May 2016 with a B.S in Comp Sci and I make about $55,000 a year as a contractor for the gov't. My reasoning for this post is i'm currently in a little bit of a bind with my student loans and could use some advice..
Here's the breakdown:
4 private student loans from sallie mae totalling 51k with interest rates at 7%,9%,10%,11%. which seems ridiculously high when I compare them to interest rates of the loans of some of my friends.
5 Federal student loans totaling to about 30k with low interest rates.
I'm a big proponent in the snowball effect, and I've already made a significant dent in the 11% loan from sallie mae (about 6k left on the original 12k)
My question is, is there anything that I can do to get the interest rates down on those other private loans? My minimum payments are ridiculously high which is limiting the amount of money I can put towards the principal. I've been doing some research into refinancing, but will that automatically consolidate those private loans?
Thanks for your help!
Submitted February 22, 2017 at 12:55PM by taidertot25 http://ift.tt/2mmkB0S
