Market Features
Fine Print for Parents
Walker came up with an interesting twist for parents with PLUS loans: many don't realize that those can be consolidated. That might be an attractive option for the older, variable-rate PLUS loans, especially if you think inflation might drive interest rates higher in future years. The consolidation formula is similar to that for Stafford Loans. The new 5.01% variable rate is rounded up to 5.125% -- not a bad rate to lock in. But you have until next year at this time to make that decision, so there's no rush. Why would you consolidate the fixed-rate 8.5% PLUS loans that parents of grads have taken out in the past two years? Walker points out that PLUS loans have a maximum consolidation rate of 8.25%. So you might want to consolidate them separately through the Department of Education, to shave one-quarter of one percent off your repayment rate. It's a very complicated, even tricky, business to deal with student loans. And that's The Savage Truth!TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.25 |
Oil *
103.00
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DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
1.06 |
10 Yr
1.62%
SPDR Gold
151.91
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-1.28%
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-1.43%
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-1.17%
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-6.12%
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Data delayed 20 minutes |
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