Getting a lower interest rate on Student Loans

[ThomasIL74]

I am in the process of paying my subsidized students loans under the Sallie Mae Loan consolidation program (Grad ChoiceSM 3). Currently my balance is 34K with an interest rate of 6.125%. I am paying $305 a month until 4/28/22. USA Funds is the guarantor.

 

I have talked to other people with student loans, and they have student loans with interest rates lower than mine. My question is with mid FICO of 800, do I have a chance of getting a lower interest rate on my student loans? If so what do I need to do?

 

Any help is appreciated.

[LynnInMN]

Nope. Interest rates vary depending on when you take the out, if there are variable or fixed and when you consolidate. Your consolidated interest rate set by a weighted average of what your loans were at the time you consolidated.