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Can you pay a consolidated student loan with high interest with a new student loan at lower rates? |
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Probably, but you are unlikely to be granted a large enough loan to refinance your consolidated loans. Yearly loan amounts are usually capped to your need for the current loan period (a year, usually) and you might not be able to borrow more than your current yearly educational outlay. But that depends on how large your conslidated loan is.
First answer by Anonymous. Last edit by anonymous. Question popularity: 168 [recommend question]
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When can a student pay off the loan? If you consolidated your student loans at a high interest rate can you take out new student loans at a lower rate to pay off the old loan?
