PinchingPennies

Saving money to pay off student loans and consumer debt

Student Loan APR Decrease

My student loan APR went from 8% down to 5% and I didn’t even notice. Today when I got my statement, I looked it over and noticed the different interest rate. Woo hoo! I wasn’t even trying. 😉 The interest on my student loans is variable so all I can think is a change in the prime rate changed my interest rate.

I did notice some discrepancies with the balances of the student loans so I will have to contact the company tomorrow and ask them about it.

Edited: Received a letter from the student loan company. They lowered my interest rate but didn’t say why. They also sent new coupon books. Between the paid off loan and the lower interest rate, I am saving $60 a month to put toward my debt snowball.

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July 10, 2008 - Posted by | Student Loans | , ,

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