*** Interest Rate

Paying for College
1

<p>I was completing my student loan with my mom as a cosigner when I saw this.</p>

<p>Interest Rate:<br>
14.25% The interest rate is variable and may change monthly. The rates and fees are based upon the date of first disbursement. (Prime + 6.00 %) The current monthly prime interest rate is 8.250%.
Fee at Disbursement: 0.00%<br>
Fee at Repayment: 3.00% </p>

<p>***, 14.25%!?!@?!??! This can't be normal right? Why's it so frikken high? That's completely ridiculous. My mom says she has good credit too. I don't understand. What are typical interest rates for student loans? I'm only taking out $6,000 too, which makes it even more ridiculous.</p>

2

<p>Apply for Stafford Loan through your school's financial aid office. If you are not eligibl for subsidized Stafford you can still get unsubsidized. Or your parens can take out a PLUS loan - interest is 8.3%</p>