What does it mean if a interest rate is "FIXED" such as student loan?

Answer It means that the interest rate will stay the same all the time.

Top Q&A For: What does it mean if a interest rate is "FIXED"...

How can I get rid of my private student loan and switch to a federal loan with a lower interest rate?

Call the US Department of Education because sometimes they will buy your loan off and then you can pay them instead. I have a student loan through the Dept. of Ed. and my interest is only 2%. Cal... Read More »

What is the average interest rate for a student loan?

The Federal Family Education Loan program and Direct Loan program interest rates are set by Congress and are variable. As of February 2011, Stafford loans taken before July 1, 2006 have a 6.8 perce... Read More »

Where can I get the best interest rate on a student loan (to be paid back in 2009)?

Go to the financial aid department at your school. They will have the applications to fill out and be able to tell you what student loans are available. I think the interest rates on student loan... Read More »

My wife's student loan fm AES is OVER 10% interest: as a single loan, is there any "consolidation" option?

It is possible to consolidate single loans if they have not been consolidated before. If the interest rate is 10%, it sounds like it must be a private student loan (as opposed to federal)? Typicall... Read More »