Not sure what the right, or smarter approach is here. My student loans are as follows, broken up into 8 separate loans with their own individual interest rates:
| Amount Owed: | Interest Rate |
|---|---|
| $3,588.71 | 3.86% |
| $2.292.11 | 3.86% |
| $4,570.59 | 4.66% |
| $2,098.73 | 4.66% |
| $5,561.41 | 4.29% |
| $2,158.18 | 4.29% |
| $2,762.82 | 3.76% |
| $1,025.96 | 3.76% |
I received a letter in the mail offering a consolidation from Discover where the possible interest rates are as follows (copied from their site):
Variable Interest Rates
4.87% APR - 8.12% APR
(3-Month LIBOR + 2.49% to 3-Month LIBOR + 5.74%)
Fixed Interest Rates
5.24% APR - 8.24% APR
10-year term
5.49% APR - 8.24% APR
20-year term
***(Lowest listed APRs include a 0.25% rate reduction for automatic payments)***
Should I look into consolidating with Discover? Or stick with my current student loan provider?
Submitted December 03, 2018 at 11:04PM by Training_2_beat_Goku https://ift.tt/2Qw2Y1A
