What is the best student loan today?
Well, to answer the easy question, LIBOR appears to be an interest rate index. It would appear that whatever loan you were looking at with regard to LIBOR has an adjustable interest rate (which means you might save a little money if you pay off the loan quickly, but you might also get into trouble if interest rates start raising rapidly and they start to charge quite a bit more on your loan … What you really should be doing (and maybe you even have!) is filling out the FAFSA (free application for federal student aid http://www.fafsa.ed.gov/) which can be done online. This will determine what the federal government believes you need to be loaned – and is often required for obtaining assistance through schools. Filling out the FAFSA and heading to your school’s financial aid office is my strongest recommendation (the financial aid office might be aware of an extra scholarship which you might be able to get, and they’ll have the know
You have the research in front of you…I have a daughter in Law School and she had and we had to wade through all the website offers until we found one that “fit” her situation…Yours may well be different…For instance she has some state grant money to go with hers…Also, your personal credit rating will affect your intrest rates. LIBOR is the acronym for London Interbank Offered Rate. It is the rough equivalent of our banking system’s fed funds rate. Here are the sites we used: Education & student loans: www.ed.gov/directloan – (refinance student loans) www.loanconsolidation.ed.gov -(refinance student loans) www.finaid.com – (financial aid for college) www.collegeboard.org – (info on schools) www.fastweb.c
